Gasoline prices rose by double digits as crude oil prices rose slightly. (iStock)
Spring is finally here, and gasoline prices are expected to rise. Gasoline prices rose an average of 11 cents this week, according to AAA. Weekly report. The average gas price is currently $3.52 per gallon.
“Gasoline prices are very similar to seasonal temperatures,” said AAA spokesman Andrew Gross. It begins to rise with the arrival of spring.
Rising oil prices are causing pump costs to rise. Only Midwestern states could see a slight drop in prices as Indiana’s BP Whiting refinery restarts operations after being shut down since February.
“And now the national average for gasoline is higher than it was a year ago, which has been the case since late December,” Gross said.
The current national average of $3.52 is 9 cents higher than this time a year ago. It was also 25 cents more than a month ago.
Although prices are rising, gas demand is actually falling slightly. Demand fell last week from 9.04 barrels a day to 8.81 million barrels a day, according to Energy Information Administration data.
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Many drivers spend more than 30% of their monthly income on car loans, and the cost of car insurance is also rising.
Gas prices rose the most in these states.
The 10 states with the largest increases in gas prices include:
- Illinois (+21 cents)
- Indiana (+21 cents)
- Ohio (+18 cents)
- Maryland (+17 cents)
- Minnesota (+16 cents)
- Kentucky (+16 cents)
- Alaska (+16 cents)
- Wisconsin (+16 cents)
- Nebraska (+16 cents)
- Oregon (+16 cents)
Some of these states overlap with the most expensive markets in the country. These markets include:
- California ($4.95)
- Hawaii ($4.69)
- Washington ($4.37)
- Nevada ($4.26)
- Oregon ($4.14)
- Alaska ($3.92)
- Illinois ($3.91)
- Arizona ($3.73)
- Washington DC ($3.63)
- Michigan ($3.60)
If you’re worried about rising prices, focus on lowering car-related costs you can control, like your car insurance premium. Car insurance rates vary based on a variety of factors, from your credit score to your driving habits. Use Credible’s free tools to shop for lower rates.
Auto insurance costs will continue to rise in 2024 – pay less in these US states
Biden administration releases final rule to support expansion of electric and hybrid vehicles
In the ever-changing world of electric vehicles, the Biden administration completed the rules The aim is to encourage consumers to purchase electric and hybrid vehicles.
The rules are Gradually limit the amount of pollution allowed from the car’s tailpipe. To meet this new standard, more than half of new cars sold will need to be emission-free by 2032. This final ruling will help avoid billions of tons of CO2 emissions by 2055.
EPA Administrator Michael Regan said in a press release: “With transportation being the largest source of U.S. climate emissions, these strongest-ever pollution standards for motor vehicles are designed to help build a cleaner transportation future and help the U.S. and solidify America’s leadership in creating high-wage jobs.”
“This standard will reduce more than 7 billion tons of climate pollution, improve air quality in overburdened regions, and give drivers cleaner vehicle options while saving money,” Regan said. Stated.
Rules are built based on EPA’s current emission standards For cars and light trucks, models from 2023 to 2026 and beyond.
“Consumers have a lot of choices,” said John Bozella, president and CEO of the Alliance for Automotive Innovation. “But pace is key. Slowing the pace of EV adoption in 2027, 2028, 2029 and 2030 will mean that in the next few (very important) years of the EV transition, a more rational electric It was the right decision to prioritize our goals.”
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The number of electric vehicles eligible for the new electric vehicle tax credit decreases to 13.
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