Energy Sector Investing

U.S. Gasoline Prices Hit 2.5 Year High

Gasoline prices in the United States have reached the highest level since September 2008.  The average retail price for regular grade gasoline was $3.74 as of April 8, 2011.  This is an increase of 12 cents from the previous week and 22 cents higher than the previous month.  Gasoline prices are 88 cents per gallon higher than the same period in 2010.

U.S. gas prices hit a record high of $4.11 a gallon in July 2008.

Gasoline price graphics from EIA

 

gasoline prices average gasoline price map

Gasoline Prices Hit 2010 Highs

Retail gasoline prices hit their highest levels of 2010 on Monday.  The nationwide average retail gasoline price rose 6 cents Monday to $2.753 per gallon.  This matches the high set January 14 and is spurred by an increase in wholesale gasoline futures. 

Wholesale gasoline contracts for April gained 1.77 cents to $2.2887 per gallon in trading on the New York Mercantile Exchange. The contract settlement price of $2.271 per gallon on Friday marked the highest close for wholesale gasoline since Oct. 1, 2008.

Crude oil posted modest gains with benchmark crude for April delivery gaining 44 cents to $81.94 a barrel in trading on the NYMEX.