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U.S. Fuel Prices Continue to Climb
The average price of a gallon of unleaded gasoline in the U.S. rose to $2.71 today, up 26 cents from a month ago, according to the AAA Daily Fuel Gauge Report.
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The average price of a gallon of unleaded gasoline in the U.S. rose to $2.71 today, up 26 cents from a month ago, according to the AAA Daily Fuel Gauge Report. It's the highest average since mid-November.
Prices averaged $3.32 per gallon at the beginning of last year but plunged to $2.10 by January 2015. Prices have been rising ever since then. AAA blames a slowdown in petroleum production in the U.S., a weakening dollar and trader speculation of growth demand in China.
But AAA notes that a continued oversupply of oil globally suggests prices may soon stabilize. The organization predicts U.S. fuel prices will remain below $3 per gallon through the end of 2015.
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