Gasoline prices are rising rapidly.
The average price for regular unleaded gasoline was $2.69 a gallon on Tuesday -- up 8 cents in four days. One month ago, regular unleaded was selling for $2.36 a gallon -- a difference of 33 cents a gallon.
To fill a 20-gallon tank one month ago it would have cost $47.20. Today, the price has jumped to $53.80. One year ago the average price for regular unleaded was $2.28 a gallon -- or $45.60 to fill that 20-gallon tank.
The cost of diesel fuel also is rising. Diesel was selling for an average of $2.73 a gallon on Tuesday, up from $2.70 four days earlier. One month ago, diesel was selling on average for $2.63 a gallon. One year ago it was $2.39 a gallon, according to AAA, of Hawthorne Fla.
AAA surveys 85,000 self-serve stations across the country each week and posts its findings on www.fuelgaugereport.com
Crude oil prices are nearing a record high. On Tuesday a barrel of crude oil was selling for $68.80, which is close to the $70.85 record set last August.
The highest price spotted for regular unleaded gasoline was $3.31 a gallon in Kailua Kona, Hawaii. The lowest was $2.05 a gallon in Salt Lake City, according to GasPriceWatch.com.
The Energy Department projects that gasoline prices this summer will average $2.62 a gallon -- 25 cents a gallon more than last summer. The department also expects that Americans will use 9.4 million barrels of gasoline a day in the summer months, a 1.5 percent increase compared with last summer.
You may e-mail Kathilee Grace at [email protected]