Monday, July 6, 2020

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Moab, UT

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    Gas prices trickle up as states reopen

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    Utah gas prices have risen 0.9 cents per gallon in the past week, averaging $1.96 per gallon Monday, according to GasBuddy’s daily survey of 1,171 stations. Gas prices in Utah are 21.8 cents per gallon lower than a month ago and 122.7 cents per gallon lower than a year ago.

    According to GasBuddy price reports, the cheapest station in Utah was priced at $1.49 per gallon May 11, while the most expensive was $2.89 per gallon, a difference of $1.40 per gallon.

    The national average price of gasoline has risen 6.4 cents per gallon in the last week, averaging $1.83 per gallon Monday. The national average is down 1.1 cents per gallon from a month ago and 102.8 cents per gallon lower than a year ago.

    “Gasoline demand continues to rebound across the U.S. as more states reopen, with a week on week rise of nearly 5%, according to data from GasBuddy’s free payments card. The boost in demand has led oil and gasoline prices to rally, and as long as states continue to loosen restrictions, it’ll mean more motorists on the roads and filling their tank,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

    “Most states saw prices rise last week, but yet again Great Lakes states, which were the largest beneficiaries of ultra-low prices, saw the most pain as retail gasoline prices fall back into their normal territory against the national average,” he continued. “For now, the continued recovery in gas prices will nearly completely depend on improvement in the coronavirus situation, as so long as refineries boost production again as demand continues to rise again.”

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