Including the change in gas prices in Minnesota during the past week, prices Sunday were 17.4 cents per gallon higher compared to the same day one year ago and are 14.9 cents per gallon higher than a month ago.
According to AAA Mid-Atlantic, the national average price per gallon for gas is $2.54, though Florida saw the biggest jump in a week with prices going up nine cents.
"It has been anything but a normal January for prices at the pump", said Mark Jenkins, AAA spokesman, in a press release.
Simple: The dent in your wallet at the gas station reflects the general rising price of oil. However, that's just not the case this year. Sunday's state average of $2.36 was 14 cents more than a month ago and 25 cents more than the same time previous year. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. At 53 million barrels, inventories are in line with this time a year ago, according to the latest Energy Information Administration (EIA) report.
The top ten markets for the cheapest gas in the country are Texas at $2.29, Missouri at $2.30, Alabama at $2.30, MS at $2.31, SC at $2.32, Arkansas at $2.32, Arizona at $2.34, New Mexico at $2.35, Oklahoma at $2.35 and Tennessee at $2.36.
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While a few states in the region are welcoming cheaper gas prices this week, there are no cost savings at the pump compared to this time a year ago - gas prices are as much as 37 cents more expensive.
At the close of Friday's formal trading session on the NYMEX, West Texas Intermediate dropped 58 cents to settle at $63.37.
Oil prices dipped after EIA's latest petroleum revealed domestic crude production in the US continues to grow.
Saudi Arabia has produced as much as 10.5 million barrels per day, but that rate has dropped below 10 million, due to the recent OPEC production cut agreement. The total number of rigs now stands at 747.