January 9, 2013

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Utah’s Average Gas Price Drops 50 Cents

Press Release

January 9, 2013

Utah’s average gas price is now the lowest in the country. The current average price for a gallon of regular gasoline is $2.90, a drop of 50 cents since the last AAA gasoline report on December 11. Only six states report prices below the $3.00 mark – Oklahoma, $2.99; Idaho and Minnesota, $2.98; Colorado and Wyoming, $2.92; and Utah, $2.90.

The current price in Utah for a gallon of regular gasoline is $2.90. This is ten cents lower than a week ago and 50 cents lower than last month’s AAA report. The current price is two cents lower than a year ago.

All of the Utah cities, which AAA tracks as a service to consumers, report decreases of at least 45 cents since last month’s report. Salt Lake City and Logan motorists had the greatest decrease, 56 cents. Ogden’s motorists experienced the smallest decrease, 45 cents.

The national average price is $3.30 for a gallon of regular gasoline. This price is one cent higher than a week ago, and three cents lower than last month’s AAA gas report. The national price is seven cents lower than a year ago. After setting new all-time daily records for each calendar day since August 20, the price on Saturday, January 5, fell below the year-ago national average.

Hawaii is the only state reporting average prices above the $4.00 mark at $4.01 a gallon. The highest average price in the contiguous 48 states is in New York at $3.75 a gallon. Only 12 states and Washington, D.C. have average prices that are more expensive than a year ago. Not coincidentally, these are also the states in which gasoline supplies and distribution were most heavily impacted by Hurricane Sandy. The Central Plain and Mountain West states report the lowest prices in the county.

“In the first 90 days of 2012, geopolitical tensions with Iran pressured the national price at the pump almost 65 cents higher. The beginning of 2013 does not have a similar situation that is moving the market,” said Rolayne Fairclough, AAA Utah spokesperson. “In light of this, AAA continues to expect gas prices in 2013 will average less than the annual record of $3.60 a gallon set last year.”

While retail prices nationally are currently rising at a slower rate than at the start of 2012, the average price is driven higher by crude oil prices that have continued to slowly increase in recent weeks.

AAA’s Fuel Gauge Report is a comprehensive retail gasoline survey available, with more than 100,000 self-serve stations surveyed every day, nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express LLC.

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