Gas Prices Continue Climbing: Which States Saw Biggest Increase This Week

by Clayton Edwards
gas-prices-continue-climbing-heres-which-states-saw-biggest-recent-increase

Currently, it seems that the prices are steadily climbing across the board. Americans are dealing with inflation that sits at a 40-year high. As a result, they’re paying more for everything including food, rent, and recreation. At the same time, Americans are feeling a pinch at the pumps. Lately, gas prices across the country have been rising. However, some states are seeing higher prices at the pump than others. Recent data shows that gas prices have risen nearly twenty cents over the past week in some areas.

At a Glance

  • High crude oil prices, among other things are raising gas prices.
  • Fuel prices are nearly 40% higher than this time last year.
  • Currently, Americans are paying an average of $3.48 per gallon

Gas Prices Are High Everywhere

According to AAA, gas prices are up nearly a dollar per gallon on average. This time last year, drivers were paying an average of $2.51 per gallon. Today, the national average is up to $3.31. However, some states are seeing even higher prices.

Those in the Western region of the United States are used to paying more at the pump. California’s gas prices are regularly higher than the national average. However, they weren’t one of the states to see the highest price hike over the last week. New Mexico saw the biggest increase in fuel prices, according to Fox Business. New Mexico residents are currently paying 18 cents more per gallon than they were last week.

This sharp increase in gas prices is not isolated to the Western region of the country, though. Delaware slid into the number two slot with a 15 cent price jump compared to last week. Further south, Tennessee and North Carolina residents saw a 12 cent per gallon increase in the last week.

Much like California, many people expect New York to fall near the top of the heap when it comes to prices on nearly everything. This week, they saw a 10 cent per gallon price increase in the past seven days.

What Is Causing Higher Prices at the Pump?

AAA spokesperson Andrew Gross spoke to Fox Business about the current spike in gas prices. Gross noted that several factors contribute to gas prices. The largest contributor to those changes though is the price of crude oil. According to Gross, crude oil prices make up half of what drivers pay at the pump. Currently, tensions between Ukraine and Russia are driving crude oil prices higher.

However, that is only part of the story. When looking at gas prices on a state-by-state basis, Gross said that factors like state and local taxes contribute to prices. Additionally, drivers will pay distribution costs at the pump. Those who are farthest from the source will pay more when filling up.

“Some states have higher taxes. Some states are further from the source, so you have to figure in gasoline, transportation, and distribution costs. That’s why you see this big difference when it comes to gasoline pricing.”

These things can shift quickly. However, with tensions in Eastern Europe showing no signs of easing, we could be looking at sustained high prices or, unfortunately, even higher prices in the near future.

Outsider.com