Gas ticks back up to $4.29 as Michigan jumps; Massachusetts drivers pay $4.23
Prices had dipped with the switch to winter-blend fuel, but crude near $100 a barrel is keeping pump costs about $1.20 above last year.
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The national average for a gallon of regular gasoline stood at $4.29 on Monday, according to AAA, slightly above the $4.27 the auto club reported in its weekly update on Thursday.
That update showed a 6-cent weekly drop, which AAA tied to the seasonal switch to cheaper winter-blend gasoline. But it also warned that crude oil was nearing $100 a barrel. U.S. benchmark crude settled at $97.15 in the period AAA reviewed.
Year over year
AAA put the year-ago national average at about $3.07, meaning drivers are paying roughly $1.20 more per gallon than they were last fall.
The Midwest jump
Michigan stands out. AAA listed the state at $4.60 last week; on Monday it was about $4.82, among the highest in the country. California remains the most expensive state at $6.02, and North Carolina the cheapest at $3.48.
New England prices on Monday
| State | Regular | Diesel |
|---|---|---|
| Massachusetts | $4.23 | $6.34 |
| New Hampshire | $4.20 | $6.36 |
| Rhode Island | $4.15 | $6.33 |
| Connecticut | $4.30 | $6.43 |
| Maine | $4.30 | $6.41 |
| U.S. average | $4.29 | — |
Source: AAA state averages, rounded to the cent.
Demand and supply
Federal data cited by AAA showed gasoline demand rising to 8.98 million barrels a day from 8.40 million, while total stocks fell to 205.3 million barrels.
International benchmark Brent crude passed $117 a barrel on Oct. 23, its highest since March, CBS News reported, as the standoff with Iran over the Strait of Hormuz continues.
Sources
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