Utah gas prices among 4th lowest in nation

Published: Tuesday, Aug. 14 2012 5:42 p.m. MDT

SALT LAKE CITY — The prices Utahns pay at the fuel pump are now among the lowest in the nation, according to AAA Utah.

The current price for a gallon of regular gasoline in the Beehive State is $3.47 — fourth lowest in the country — and 6 cents lower than last month, and 7 cents lower than a year ago.

In May, gasoline prices in Utah hit a yearly high of $3.77 per gallon.

The national average price of $3.70 is 10 cents more than the same time last year and 24 cents lower than the highest national average for the year of $3.94 recorded in April.

”Utah, Alaska, Colorado and Hawaii are currently paying less than a month ago, said AAA Utah spokeswoman Rolayne Fairclough. "This is very different from motorists in 38 states that are paying at least 20 cents more than they were at this time last month.” 

Domestic supply and distribution issues have impacted state and regional prices during the last month, the report states. The national average from July 30 to Aug. 6 rose 13 cents led by seven states in the Midwest that saw prices rise 20 cents to 45 cents per gallon during the same period.

As domestic supply and distribution issues have moved regional prices higher, oil price increases have pressured the national price higher, Fairclough said. The increases are due to mixed global economic news, supply concerns from new geopolitical tensions with Iran and the seasonal increase in demand that comes with the summer driving season, she added.

Jasen Lee

Twitter: JasenLee1

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