The national average price for gasoline jumped six cents to $2.22 to start the week before the holidays, the highest national average since mid-September, according to AAA.
Two factors have contributed to driving up the price at the pump: rising crude oil prices and tightening supply, according to AAA. Prices also began to rise last month alongside vaccination news and have only increased with it becoming available. However, demand for fuel still remains at an extremely low level. AAA believes this factor will impact gas prices, pushing them cheaper in January.
“The recent gas price pump jumps are a bit surprising given December demand numbers are the lowest posted for the month since 1999,” said Jeanette Casselano McGee, AAA spokesperson. “The increases are likely to be short-lived, especially as holiday road travel is expected to see at least a 25% decline.”
Today’s national average is 11 cents more expensive than last month, but 33 cents cheaper than last year.
The nation’s top 10 largest weekly increases were Wisconsin (up 13 cents), Michigan (up 12 cents), Indiana (up 12 cents), Ohio (up 11 cents), Minnesota (up 9 cents), Illinois (up 9 cents), Missouri (up 9 cents), Iowa (up 8 cents), Texas (up 8 cents) and South Carolina (up 8 cents).
Meanwhile, here are the nation’s top 10 least expensive markets: Mississippi ($1.89), Louisiana ($1.93), Missouri ($1.93), Texas ($1.93), Oklahoma ($1.94), Arkansas ($1.94), Tennessee ($1.97), Alabama ($1.97), South Carolina ($1.99) and Kansas ($2.00).
