Gas prices in these states saw the biggest weekly increase
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Gas prices around the nation continue to be pushed even higher driven largely by elevated crude oil prices.
Prices are already up nearly 40% compared to this time last year, according to AAA. Over the past week, prices climbed four cents to an average of $3.48 per gallon nationwide.
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However, certain states faced even greater increases, with some drivers in New Mexico paying as much as 18 cents more at the pump over the past week, according to AAA data.
Signage is seen on a gasoline pump at an Exxon gas station in Brooklyn, New York City, U.S., November 23, 2021. ( Reuters/Andrew Kelly / Reuters) New Mexico topped the list for the 10 largest weekly increases. Delaware saw the next highest increase, with drivers seeing an increase of 15 cents. RUSSIA CONFLICT STOKES ENERGY CONCERNS AS GAS PRICES CONTINUE TO CLIMB In North Carolina and Tennessee, prices at the pump increased by 12 cents and in New York, drivers faced a 10-cent increase. AAA spokesperson Andrew Gross told FOX Business that prices in states go up and down weekly and can easily shift positions on AAA's list of the top 10 states with the largest weekly increases. A variety of factors play into how much prices will increase or decrease in each state, chiefly the price of oil, which is currently being swayed by tensions between Russia and Ukraine. It accounts for about half of what consumers pay at the pump, Gross said. When breaking price differences down by state, you need to factor in state and local taxes as well as distribution costs, Gross added. A gas pump is seen in a car at a Shell gas station in Washington, D.C., U.S., May 15, 2021. (Reuters/Andrew Kelly / Reuters Photos) "Some states have higher taxes. Some states are further from the source, so you have to figure in gasoline, transportation and distribution costs," he said. "That's why you see this big difference when it comes to gasoline pricing." Gross pointed to the most expensive markets like California, Washington and Hawaii as prime examples. Source: Read Full Article
Here are the states with the largest increases over the past week, according to AAA.