Average retail gasoline prices in Utah have fallen 0.5 cents per gallon in the past week, averaging $2.83/g yesterday. This compares with the national average that has increased 2.1 cents per gallon in the last week to $2.72/g, according to gasoline price website UtahGasPrices.com.
Including the change in gas prices in Utah during the past week, prices yesterday were 22.5 cents per gallon higher than the same day one year ago and are 3.5 cents per gallon lower than a month ago. The national average has increased 2.9 cents per gallon during the last month and stands 26.9 cents per gallon higher than this day one year ago.
"Last week we saw oil prices surpass $80 per barrel after a government report indicated a larger than expected drop in petroleum supplies. Combined with other positive signals from the economy, oil prices spiked and motorists should expect retail gasoline prices to move higher in the coming days as a result," said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. "Most areas across the U.S. will see gasoline prices rise this week, anywhere from a few cents per gallon to a dime or perhaps even more," he says. DeHaan expects high volatility in retail gasoline prices this autumn as the U.S. economy continues to improve, signaling higher demand for refined products, such as gasoline and heating oil.