DETROIT -- It doesn't take long for a jump in crude oil prices to trickle down to the gasoline pump.
The average price of a gallon of unleaded gasoline has jumped 3 cents since Tuesday, according to AAA, as crude oil prices stood near record highs of $60 a barrel.
Don't be surprised to see pump prices keep rising. The price of a barrel of crude oil for future delivery hovered around $59.70 on Friday morning, driven by continued strong demand for gasoline and reports of falling stockpiles.
One month ago, the average price of a gallon of unleaded gasoline stood at $2.12, according to AAA of Hawthorne, Fla. One year ago, it was $1.93.
Drivers of diesel-powered vehicles are paying an average of $2.37 a gallon for fuel. That's within 2 cents a gallon of the all-time high price recorded by AAA on April 11.
In late June 2004, diesel fuel was selling for an average of $1.78 a gallon.
AAA surveys more than 60,000 self-serve gasoline stations daily and reports its findings on www.fuelgaugereport.com.
Volunteer price spotters that report to GasPriceWatch.com say the most expensive gallon of gasoline in the nation can be found in Los Angeles, at $2.89. The cheapest gasoline is $1.91 a gallon in Blacksburg, S.C.
GasPriceWatch.com uses volunteer spotters to report more than 55,000 prices.
|National Unleaded Average|
|Month Ago Avg.||$2.12||$2.25||$2.33||$2.26|
|Year Ago Avg.||$1.95||$2.04||$2.12||$1.78|
|*Prices are in US dollars per gallon|
You may e-mail Dale Jewett at [email protected]