Gas prices have increased 17 cents a gallon in the past week. And analysts expect prices to continue higher, following a sharp rise in the price of crude oil.
The national average price for a gallon of regular gas rose 4.6 cents to $3.33, motorist group AAA said today. That marks the fourth day in a row that prices have risen, and brings the national average to the highest level since October 2008.
Prices at the pump can vary widely among states, due in large part to vastly different levels of gasoline tax.
Gas prices were highest in Hawaii, where drivers paid $3.761 a gallon, on average. Wyoming had the lowest gas prices at roughly, $3.032 a gallon.
Tom Kloza, chief oil analyst at the Oil Price Information Service, said gas prices’ six cent jump reported Friday was the largest one-day increase since at least 2008.
“This will definitely be the most expensive February ever,” he said, adding that gas prices are typically lower during the winter months.
The jump in pump prices follows a surge in prices for crude oil, the main ingredient in gasoline. Oil prices spiked nine cents last week, a week that included a high of $103 a barrel — the highest since October 2008.
Analysts expect prices to continue rising over the next few days, since gas prices typically lag trends in the oil market. (CNN)
