
Fuel Trends
Mar. 8-12, 2010 The U.S. average price for regular gasoline increased for the third consecutive week, according to the Energy Information Administration, moving up a nickel to $2.75 per gallon. The price was 81 cents above the average last year at this time. Averages on the West Coast (Alaska, Arizona, California, Hawaii, Nevada, Oregon, and Washington) increased about five cents to $2.98 per gallon. The California price increased a nickel to $3.05 per gallon.
For the third week in a row, the U.S. average price for diesel fuel increased. At $2.90 per gallon, the price went up by four cents to settle 86 cents above the price a year ago. On the West Coast, the average rose about five cents to $3.00 per gallon. The California price moved more than three cents up to $3.06 per gallon.
Gas prices across Northern California continue to rise, due in part to optimism about the economy's short-term health, fluctuations in the strength of the US dollar, and seasonal factors, according to the American Automobile Association. Seasonal factors include the switch of refineries to summer blend fuels and investors betting on increasing consumption for summer.
AAA Northern California's latest report shows the average gas prices in all but three Northern California metro areas are now above the $3-a-gallon mark.
"Motorists will soon enter the traditional time of year when demand for fuel rises, as more people hit the road. This demand jump typically helps to bump up the pump price," AAA Northern California spokesman Matt Skryja said. "In the short term, demand remains quite soft, which is helping to keep gas and oil prices from drifting dramatically higher."
Chris Nobles
Commercial Fueling
NELLA Oil Company
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