US Gas Prices Bounce Back From Last Week


"Overall, gas prices this spring will come in some 10-25 percent higher than a year ago, removing billions of dollars from other areas of the economy that will instead be funneled to the pump".

The average for Sunday was 2.9 cents higher than Monday's prices, according to GasBuddy's daily survey of 5,345 gas outlets in Ohio.

Gas prices are inching up after weeks of decline.

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However, gasoline inventories posted the exact opposite, falling 6.3 million barrels to a similar level from a year ago, most likely for similar reasons. "As a result, the majority of motorists are seeing more expensive gas prices at the start of this work week".

AAA Michigan says gas prices statewide have fallen by about 2 cents per gallon in the past week. Gas prices have increased 15.1 cents from last month's average and have increased 24.1 cents from last year's average.

Wholesale gasoline prices climbed 10 to 15 cents Wednesday through Friday, AAA said.

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"There are a few of factors that gave gas prices a boost, but this time it wasn't crude oil", said Mark Jenkins, a spokesman for AAA.

A federal estimate from last week showed gasoline demand across the US economy is at a point not usually seen until summer months, when more vacationers hit the road. The West Palm Beach-Boca Raton region was highest at $2.65.

- Tennessee: the highest average price was $2.41 on February 7; the lowest was $2.26 on January 1. MS ($2.28), Alabama ($2.28), SC ($2.29), Arkansas ($2.30), Texas ($2.31), Louisiana ($2.32) and Oklahoma ($2.34) are among the top 10 states with the least expensive gas prices in the country. The national average rose 1.5 cents to $2.54.

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