Monday, March 7, 2011

Gas Prices - Biggest Hike in 2 Years. No End in Sight.

Utahns who enjoyed the lowest gasoline prices in the country in January are now paying more than many other states and will see prices continue to rise. Rolayne Fairclough of AAA Utah says Utah drivers as of Tuesday were paying $3.15 per gallon, up $.33 cents from a month ago, It's the highest jump in two years. Fairclough says gasoline prices in the state typically begin to rise in March as the seasons change. Prices typically peak during the summer.

Though Utah's supplies come from Canada and western states, she said international crude oil prices still affect local rates. As of Tuesday, Fairclough says 24 states had lower prices than Utah - a sharp contrast from January when the states average was $2.80 per gallon.

In California many stations are reporting gas prices hoovering $4.00 per gallon.

Many Utah drivers say they are starting to alter how much they drive and how much they spend. Economic experts are worried that cutbacks on consumer spending Will hurt what was already a slow economic recovery.

Salt Lake Tribune Randall Jeppesen

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