Gasoline prices are averaging over $3 a gallon in all 50 states for the first time since Dec. 15, according to AAA data.
According the AAA’s Daily Fuel Gauge Report, the national retail average price for a gallon of self-serve regular gasoline in the U.S. stands at $3.48, up 12 percent from a year earlier, CNBC reports.
The most expensive state was Hawaii, where gasoline averages $4.18 a gallon, followed by Alaska at $3.87 and New York at $3.79.
Editor’s Note: Join the 3.5% of Americans who are truly wealthy and financially secure.
The cheapest gasoline was found in Wyoming, where prices are averaging $3.01, followed by both Colorado and Montana, tied at $3.06, trailed by Utah, where prices are averaging $3.09.
Some experts see gasoline topping $4 a gallon in the coming months, when driving picks up and refineries switch to pricier feedstocks, says Tom Kloza, chief analyst for the Oil Price Information Service.
"I think it's going to be a chaotic spring, with huge price increases in some places," Kloza says, USA Today adds.
Other experts agree prices are on the rise, especially thanks to geopolitical tensions marked by Iran's threats to cut supply.
The West has sanctioned Iran for pursuing a nuclear program.
"Higher demand, Iran, lost refining capacity are all potential problems," says Brian Milne of energy tracker Televent DTN, USA Today adds.
Prices won't stay high for long.
"We'll get over $4 a gallon, but it's going to be tough to sustain that level. People will drive less."
© 2023 Newsmax Finance. All rights reserved.