Posted in: Gas Prices,
by Patrick DeHaan on Mar 5, 2012 01:32 PM
If you've been in a car in the last month or so, chances are you've seen a gasoline pump- with a rapidly increasing price the last few weeks. While I don't expect prices to fall much, the rate of price increases may slow.
Prices have made the biggest two week jumps in Illinois, up a whopping 47-cents per gallon, Michigan, up 46.6-cents per gallon, Indiana, up 42.1-cents per gallon, and Wisconsin, up 38.7-cents per gallon.
Also seeing sharp increases:
Utah, up 34.9-cents per gallon
Idaho, up 31.3-cents per gallon
Alaska, up 30.4-cents per gallon
California, up 30-cents per gallon
Oregon, up 28.7-cents per gallon
Washington, up 28.3-cents per gallon
There are losers (the above mentioned states), and winners- but wait- are there ever winners to rising gas prices? Sad state of affairs. Prices have "only" risen 8.7-cents per gallon in Hawaii, Deleware, 9.1-cents per gallon in North Carolina, and 9.8-cents per gallon in Tennessee in the last two weeks.
Maryland, up 9.8-cents per gallon
Minnesota, up 9.9-cents per gallon
Virginia, up 10.1-cents per gallon
Alabama, up 10.1-cents per gallon
Rhode Island, up 10.2-cents per gallon
The areas that are winners will soon become losers, like the rest of us, and many of the areas seeing the smallest increases may start to see their prices rise accordingly. As I've said, this is like a marathon. We're all going to end up at the same place, but some states run the race faster (IL, MI, WI, IN), and some run slower (RI, AL, VA, MN, MD). Just hold on folks- we're already at a national average that's just a few cents under the low side of the price range we expected for May- so things could get worse- or stabilize.