Energy

Gasoline Prices Rise for 21 Straight Days

refilling the car
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The national average price of a gallon of gasoline has risen every day for the past 21 days, according to AAA. In the month of February, gasoline prices rose $0.17 a gallon to end the month at $3.45. For the full month, a gallon of gas averaged $3.34, the lowest monthly average since 2011.

The 5% price rise in February reflects the largest one-month increase since last July. AAA expects the price to peak between $3.55 and $3.75 a gallon in March or early April while refiners cut production as they switch to making more expensive summer-grade fuel. Last year’s peak price was $3.79 a gallon, and AAA does not expect gasoline to reach that level this year.

Gasoline prices peaked early last year, which AAA attributes to an earlier start to refinery maintenance. A contributing factor was the unexpected closure of Hess Corp.’s (NYSE: HES) New Jersey refinery in late January, which sent oil traders scurrying to find an alternate source of supply, bidding up prices in the process. Gasoline prices fell by $0.15 a gallon in March last year and fell further in April.

The five states where residents are paying the most for a gallon of gas are Hawaii ($4.08), California ($3.84), Alaska ($3.77), Connecticut ($3.75) and New York ($3.74).

The five states with the lowest prices per gallon are South Carolina ($3.17), Montana ($3.18), Alabama ($3.21), Mississippi ($3.22) and Tennessee ($3.22). According to AAA, less than 1% of all gasoline stations in the United States now are selling gasoline for less than $3.00 a gallon, compared with more than 25% selling sub-$3.00 a gallon gas in November.

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today.  Don’t miss these offers because they won’t be this good forever.

 

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

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