Gasoline Prices Tick Higher

The drop in gasoline prices is over for now. The average per-gallon price of regular nationwide, according to the AAA Fuel Gauge, was $3.782, compared to $3.780 the day before and $3.805 a month ago.

Given the drop in oil prices, gas prices logically should have fallen more. But concerns about supply, the instability of Iran and OPEC's plans for early next year have kept prices high. Refinery activity in the United States may play a part as well. The problem is worse than its seems, when several of the most populous states are taken into account. Prices are above $4 in California, Connecticut and New York, and just below that level in Michigan, Illinois and Massachusetts.

If the fiscal cliff is reached, these gas prices could be the last straw to break the back of consumer spending.

Douglas A. McIntyre

Filed under: 24/7 Wall St. Wire, Oil & Gas
Read Full Story


NASDAQ 7,239.47 -16.97 -0.23%
S&P 500 2,732.22 1.02 0.04%
DJIA 25,219.38 19.01 0.08%
NIKKEI 225 22,149.21 428.96 1.97%
HANG SENG 31,115.43 599.83 1.97%
DAX 12,443.23 -8.73 -0.07%
USD (per EUR) 1.24 0.00 0.03%
USD (per CHF) 0.93 0.00 -0.03%
JPY (per USD) 106.48 0.23 0.21%
GBP (per USD) 1.40 0.00 -0.12%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.