US retail gasoline prices continue to hold steady

27 August 2013 18:23  [Source: ICIS news]

HOUSTON (ICIS)--The US national average price for regular unleaded gasoline at the pump is at $3.54/gal, the same as the previous two weeks, and 21 cents/gal lower than one year ago, automobile organisation AAA said in its Fuel Gauge Report on Tuesday.

Even as regional average prices continue to shift, the most expensive gasoline prices in the US remain in Hawaii at $4.33/gal and Alaska at $4.04/gal, AAA said.

Despite upticks in east coast and west coast prices, no continental state is averaging more than $4/gal.

For the same time in 2012, AAA said eight states were paying an average of more than $4/gal.

However, higher crude prices and the upcoming Labor Day holiday, which usually means increased automobile travel, could lead to higher retail gasoline prices soon.

“While retail gas prices remain well below year-ago levels, tensions, unrest and violence in the Middle East and North Africa have kept global oil prices higher than recent summers,” said AAA’s Michael Green. “West Texas Intermediate (WTI) crude oil prices have now settled above $100/bbl each day since the beginning of July due in large part to these continued reports of violence in Egypt, Libya and Syria.”

Furthermore, AAA is projecting an increase in 2013 Labor Day weekend travel to a new post-recession high as US consumer spending and the housing market improves.

Current average

Week-ago average

Month-ago average

Year-ago average

$3.54

$3.54

$3.63

$3.75

Prices are the US average per gallon of regular unleaded retail gasoline

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By: Anna Matherne
713-525-2653



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