Part of the marker for higher gas prices is the national average. It was $2.08 a month ago. The price has risen to $2.25, according to GasBuddy.
Of course, the price of oil is always the primary component of gasoline prices. After reaching $100 in June, oil traded at just above $50 off and on for several weeks. More recently, after dropping to $43.58, it has risen to $52.65, a jump of 20% in only three days.
The three states where gas price are still under $2 are Idaho at $1.908, Utah at $1.917 and Montana at $1.955. Montana has two large refineries in Billings. Utah has five. Proximity to refineries (if they produce gasoline) affects oil prices because of low transportation costs from refinery to pump.
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State gas taxes are another major part of total cost. These taxes in the three states with sub-$2 prices are relatively low. In Montana they total $0.462 a gallon, according to the American Petroleum Institute. In Utah the total is $0.429 and in Idaho $0.434. At the other end of the spectrum, gas taxes in Pennsylvania are $0.629, in California $0.6379 and New York $0.6349.
If some analysts are correct, oil will plunge again. At least one bank, Citigroup, has forecast oil will fall to $20. A large number of experts believe it will drop to under $40 and stay there for months. If the first forecast is true, gasoline in some states will fall close to $1 a gallon. If the second is true, sub-$2 will be the average across at least half the states.
Wherever gasoline prices are headed eventually, for the time being, it is getting more expensive to drive.
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