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AAA reports largest increase in gasoline prices in three years

Posted by on Feb. 21, 2013 at 7:43 AM
  • 26 Replies


The 44-cent jump in gasoline prices over the past four weeks was the largest in well over three years, according to AAA.

“The 44-cent month-over-month increase is the most dramatic since June 2009. The largest increase on record was August 5-September 4, 2005 when prices jumped 75 cents largely because of Hurricane Katrina,” the travelers’ services group said in its weekly price analysis.

Here’s more from AAA:

The national average has increased for 33 consecutive days, rising 46 cents or nearly 14 percent during this stretch. This is the longest streak since the price increased 44 cents over 44 days March 22-May 5, 2011. This year’s run-up is not only larger and faster than recent years but is beginning earlier. The national average in 2011 increased by just seven cents during the same 33 day period and in 2012 it increased by 18 cents.

Average nationwide prices were $3.75 per gallon Tuesday, the highest on record for the calendar day.

That’s well below record levels reached in the summer of 2008. But prices are high enough to make the pump costs, which played a big role in election-season attacks, reemerge as a political weapon for Republicans.

Republicans on Wednesday used rising gasoline prices to reiterate calls for White House approval of the Keystone XL pipeline that would bring oil from Canadian oil sands projects to Gulf Coast refineries.

“Increased global competition for oil supplies and political tensions in the Middle East are contributing to high gas prices as uncertainty swells over future supplies. To help insulate ourselves from overseas supply disruptions and future gas price spikes, America must look to expand energy production here at home and increase imports from our North American allies,” Republicans on the House Energy and Commerce Committee said in a statement.

Critics of the proposed pipeline say it will do nothing to lower gasoline prices, which are tethered to crude oil prices set on global markets.

AAA, for its part, said this year’s earlier-than-usual rise in prices is related in part to refinery maintenance.

“One reason for the earlier price increase is the trend of U.S. refineries performing seasonal maintenance and making the switch-over to summer blend gasoline production earlier in the year. This earlier schedule is the choice of refiners and has not come in response to any change to the deadline to complete the transition to summer-blend fuels, which are required in many parts of the country and more expensive to produce,” the group said.

“Regional supplies can decrease when refineries go offline and subsequently markets are more sensitive during the changeover period to refinery disruptions that would further squeeze supply, as we have seen this year,” AAA said.


Read more: http://thehill.com/blogs/e2-wire/e2-wire/284081-aaa-four-week-gas-price-increase-largest-in-over-three-years#ixzz2LXM9UWQs
Follow us: @thehill on Twitter | TheHill on Facebook

by on Feb. 21, 2013 at 7:43 AM
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Replies (1-10):
stormcris
by Christy on Feb. 21, 2013 at 7:46 AM

Oh please they drove up the gas prices for the lamest of excuses ....plant shutdown. Plants go through shutdowns all the time and it is a part of business which they know will happen. Anytime someone breaks a nail lately they drive up gas prices. The middle east is the middle east we can supply our own without more drilling and we get a large precentage from Mexico.

candlegal
by Judy on Feb. 21, 2013 at 8:13 AM
1 mom liked this

I know ours went up to $3.59 yesterday.   A couple of months ago we were paying $2.99.   That is quite a jump in a few months.

Quoting stormcris:

Oh please they drove up the gas prices for the lamest of excuses ....plant shutdown. Plants go through shutdowns all the time and it is a part of business which they know will happen. Anytime someone breaks a nail lately they drive up gas prices. The middle east is the middle east we can supply our own without more drilling and we get a large precentage from Mexico.


Woodbabe
by Woodie on Feb. 21, 2013 at 8:15 AM

It's WELL over $4 here...our little Focus used to take $35 to fill up and it was way over $50 this time. I'm glad we have it for daily commuting and running around, I don't even want to think about filling up the Yukon right now.

anikahaynes1
by Member on Feb. 21, 2013 at 8:15 AM
I wish we were paying 3.75. We live in upstate my and regular gas is 3.99. :(
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IhaveHisjoy
by Silver Member on Feb. 21, 2013 at 8:22 AM

 I am so thankful my dh drives a company car.. Costs me $75 to fill up my vehicle alone.

stormcris
by Christy on Feb. 21, 2013 at 8:23 AM

Yes it is

Quoting candlegal:

I know ours went up to $3.59 yesterday.   A couple of months ago we were paying $2.99.   That is quite a jump in a few months.

Quoting stormcris:

Oh please they drove up the gas prices for the lamest of excuses ....plant shutdown. Plants go through shutdowns all the time and it is a part of business which they know will happen. Anytime someone breaks a nail lately they drive up gas prices. The middle east is the middle east we can supply our own without more drilling and we get a large precentage from Mexico.



IhaveHisjoy
by Silver Member on Feb. 21, 2013 at 8:26 AM
2 moms liked this

 Are we still blaming Bush for this???

candlegal
by Judy on Feb. 21, 2013 at 8:27 AM

bouncing

Quoting IhaveHisjoy:

 Are we still blaming Bush for this???


meriana
by Gold Member on Feb. 21, 2013 at 9:08 AM
1 mom liked this

Prices going up while we are extracting more oil than ever from the ground. Kinda refutes the idea that drilling more will result in lower prices at the gas pump.

candlegal
by Judy on Feb. 21, 2013 at 9:23 AM

yeah, that's it.

Quoting meriana:

Prices going up while we are extracting more oil than ever from the ground. Kinda refutes the idea that drilling more will result in lower prices at the gas pump.


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