As bad as all that might sound, it’s actually an improvement. In March of 2013 the average price of a gallon of gas was $3.695 and in March of 2012 a gallon of gas cost $3.829. This year’s average for March came in at $3.507 a gallon.
According to AAA, gasoline is relatively less expensive this year because many refineries have increased capacity to take advantage of North American crude oil production. Demand was also relatively weak during the winter to to the heavy snow and frigid temperatures.
AAA has forecast a national average price for April in a range of $3.55 to $3.75 a gallon, which would remain below last year’s peak of $3.79 a gallon which was reached in February. Prices could rise over the next few weeks as people begin driving more in the warmer weather and refinery production remains throttled by annual maintenance and a switch to summer-blend fuel. Refineries should be finished with their work by the end of April which should help build inventories ahead of the summer driving season that officially kicks off at the end of May.
The states with the highest gasoline prices are Hawaii ($4.24), California ($4.00), Alaska ($3.82), New York, and Connecticut ($3.77 in both). The states where gas is cheapest are Montana and South Carolina at $3.28, Louisiana ($3.31), Mississippi ($3.32), and Arkansas ($3.34). Only two states — Ohio and Pennsylvania — are paying less than they were a month ago.
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.