Gasoline prices in Utah rise to $2.64 per gallon

Gasoline prices climbed 2 cents in Utah in the past month, despite autumn typically being a time of declining gas costs.

AAA Utah reported on Tuesday that a gallon of unleaded regular costs an average of $2.64 in Utah. It was $2.62 last month and $2.39 last year.

The national average gas price is $2.66, up from a month ago when it was $2.48 and a year ago when it was $2.24.

In the past month, Montana also had a 2-cent increase and Colorado had a 22-cent rise, said Rolayne Fairclough, AAA Utah spokeswoman.

So what gives?

Demand usually decreases in the fall, which makes prices drop, said Lee Peacock, president of the Utah Petroleum Association. "But other factors come into play this year," he said.

"The price of crude oil went up, and that's what caused the adjustments nationwide," he said. "Plus, the weak dollar makes everything in this country more expensive."

Oil has become a hot commodity this year as the dollar has weakened and money flows into crude contracts. Because oil is largely bought and sold in U.S. currency, it effectively becomes cheaper if the dollar falls. Investors holding stronger currencies like the euro can trade them in for dollars and buy more oil.

On Tuesday, traders valued $1 to 1.50 euros, 1.67 British pounds and 1.05 Canadian dollars. Crude closed at $79.05 a barrel Tuesday on the New York Mercantile Exchange.

AAA Utah surveys a handful of communities across the state. Individual gas stations sell fuel at higher and lower prices. AAA's report focuses on self-serve regular gas without regard to octane level.

In Salt Lake City, gasoline increased 1 cent in the last month to $2.59. In Ogden, gas is $2.56, up 3 cents. In Provo, gas increased 2 cents to $2.60. Gas in Vernal dropped 2 cents to $2.64. Gas in Moab increased on average 21 cents to $2.74 — the highest in the state.

Contributing: Associated Press

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