Trade war creates volatile fuel market; gas prices rise slightly

Utah gas prices have risen 1.2 cents per gallon in the past week, averaging $2.80 per gallon Monday, according to GasBuddy’s daily survey of 1,171 stations. Gas prices in Utah are 0.9 cents per gallon lower than a month ago and 27.6 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Utah was priced at $2.46 per gallon Monday while the most expensive was $4.29 per gallon, a difference of $1.83 per gallon. The cheapest price in the entire country Monday stood at $1.81 per gallon while the most expensive was $5.52 per gallon, a difference of $3.71 per gallon.

The national average price of gasoline fell 0.7 cents per gallon in the last week, averaging $2.63 per gallon Oct. 21. The national average is down 2.7 cents per gallon from a month ago and 19.8 cents per gallon lower than a year ago.

“While the national average was overall little changed in the last week, few states saw such mundane moves with average price changes all over the map,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “The Pacific Northwest saw prices rising as refinery maintenance and overall supply tightness in the area pushed prices notably higher in Oregon and Washington, while California saw additional relief after myriad refinery issues pushed them up weeks ago.

“Gas prices also cycled higher in Florida and throughout the Great Lakes while inching lower in the South and East,” he continued. “While we await any evidence of a trade deal signed between China and the U.S. we remain in a period of overall volatility at a time of year we’re accustomed to seeing prices fall. Expect this roller coaster to continue. I can’t remember an autumn where we saw so many factors that could impact prices so quickly and in such different directions.”