AAA officials say the price of gasoline has leveled off at $2.81 per gallon after climbing more than 12% in March and April, but a steady seasonal uptick looms ahead.
by Staff
May 10, 2018
1 min to read
After a harrowing 60-day climb, gasoline prices have leveled off at $2.81 per gallon heading into the summer driving season. Photo by ElasticComputeFarm via Pixabay
HEATHROW, Fla. — The national average price of a gallon of regular unleaded leveled off at $2.81 for the week ending May 7, according to AAA, following steady increases that put the price at more than 12% since early March.
Gasoline is now 45 cents more expensive than it was a year ago. With the summer driving season on the horizon, prices are expected to move higher at a steadier rate, AAA officials said.
Ad Loading...
“If this past week’s moderate increases are any indicator of what’s to come, the fast rate at which gas prices were increasing may be slowing down,” said AAA spokesperson Jeanette Casselano. “On the week, the national average held steady and 19 state averages remained flat or saw decreases in gas prices. Despite this stability, drivers on the West Coast and in Idaho, Utah, and Pennsylvania are paying $3 per gallon.”
States with the most expensive gasoline include California ($3.63), Hawaii ($3.63), Washington ($3.32), Alaska ($3.28), Nevada ($3.25), and Oregon ($3.23).
States with the largest yearly increases include Indiana (up 66 cents), California (up 66 cents), Utah (up 63 cents), Arizona (up 60 cents), Hawaii (up 56 cents), Idaho (up 55 cents), and Nevada (up 55 cents).
Meanwhile, the average price of diesel increased 1.4 cents to $3.171 per gallon, which is 60.6 cents higher than a year ago.
Building on a previously announced $26 billion U.S. investment, Hyundai said it will grow its North American lineup and U.S.-based production and parts sourcing.
Sony-Honda venture cancels two planned models, the first of which had been pegged for a mid-2026 California delivery debut. The brand’s direct sales had been challenged by the state’s auto dealers, but the venture cites Honda’s EV retreat.
Softening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
The agency sent warning letters to dozens of auto groups about what it described as illegal practices and urged them to ensure their pricing policies enable transparency with consumers.
New-vehicle sales fell year-over-year for the fifth month in a row in February, making retail deliveries the slowest they’ve been since 2023, according to a CarGurus report.
The automaker says its California skunk works is already finding efficiencies to lighten traditionally heavy electric vehicles for lower cost, plus extended range.
GM says it sells the cheapest electric vehicle in the U.S. market. It explains how it made improvements to the entry-level EV while keeping its price down.
