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Gas Prices Are Rising Above $4 a Gallon in Ten States

March 28, 2012

The latest stats on rising gas prices, brought to you by insideline.com. You can read the full story here.

Gas Prices Top $4 a Gallon in Ten States

By , Correspondent | Published Mar 28, 2012

Just the Facts:

  • Pump prices for gasoline continued their upward march on Wednesday, with ten states and the District of Columbia already past the $4-a-gallon mark, according to the AAA Daily Fuel Gauge Report.
  • The national average price for a gallon of unleaded gasoline in the U.S. stood at $3.91 a gallon on Wednesday.
  • Gas is the most expensive in Hawaii at $4.55 a gallon.

 

WASHINGTON — Pump prices for gasoline continued their upward march on Wednesday, with ten states and the District of Columbia already past the $4-a-gallon mark, according to the AAA Daily Fuel Gauge Report.

The national average price for a gallon of unleaded gasoline in the U.S. stood at $3.91 a gallon on Wednesday.

Gas is the most expensive in Hawaii at $4.55 a gallon, followed by Alaska and California at $4.32 a gallon. Consumers in Connecticut, Illinois, Indiana, Michigan, New York, Oregon and Washington are paying more than $4 a gallon for gasoline.

The highest recorded national average price for a gallon of unleaded gasoline stood at $4.11 on July 17, 2008, according to the AAA Daily Fuel Gauge Report.

Rising gas prices are boosting the purchase of small, fuel-efficient cars. Chevrolet says that its Sonic experienced its best sales month ever in February, with 7,900 units sold — 6,000 of them to retail customers and not fleets.

Gas prices could double if Iran acts to close the Strait of Hormuz to oil-tanker traffic, according to IHS Global Insight. About 17 million barrels of oil a day pass through the strait — roughly 20 percent of the global market. There are also fears that gas prices could skyrocket if Israel goes forward with a threatened military strike on Iran in response to Iran’s nuclear program, thus interrupting oil supplies through the Persian Gulf.

Rising gas prices are a political hot potato and a recurring theme in the 2012 presidential race.

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