Gas prices rise slightly since last month

The pain at the pump appears to be leveling off. AAA of Northern California reports gas prices are averaging $3.11, up four cents from last month. Of the 25 metro areas it tracks gas prices, all except one had seen a slight increase in the average cost of gasoline since AAA’s last survey on March 9. In Santa Cruz, gas jumped four cents to an average of $3.07 per gallon of gas. “Shaky employment figures and weak demand for gasoline are helping to keep prices at the pump from skyrocketing even higher,” said Matt Skryja, spokesman for AAA of Northern California. “Given that oil prices, and subsequently gas prices, have recently been driven more by investor trading than by traditional supply and demand factors, investors are looking at any jobs or consumer data that might indicate the economy is improving. As the economy improves, demand for oil and gas typically goes up, which makes oil a more attractive commodity to investors.” This time last year, California’s paid an average of $2.34 per gallon of gas. Meanwhile, the current national average price of $2.86 is up by 10 cents over last month. That’s 81 cents more than the national price this time last year, when gas was $2.05. The price to pump gas in the Golden State is the third highest in the nation, according to AAA. At $3.90 per gallon, Wailuku, Hawaii has the most expensive gas in the county. The least expensive fuel can be found in Kansas City, Missouri, where the average price of gas is $2.62.
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