As bad as all that might sound, it’s actually an improvement. In March of 2013 the average price of a gallon of gas was $3.695 and in March of 2012 a gallon of gas cost $3.829. This year’s average for March came in at $3.507 a gallon.
According to AAA, gasoline is relatively less expensive this year because many refineries have increased capacity to take advantage of North American crude oil production. Demand was also relatively weak during the winter to to the heavy snow and frigid temperatures.
AAA has forecast a national average price for April in a range of $3.55 to $3.75 a gallon, which would remain below last year’s peak of $3.79 a gallon which was reached in February. Prices could rise over the next few weeks as people begin driving more in the warmer weather and refinery production remains throttled by annual maintenance and a switch to summer-blend fuel. Refineries should be finished with their work by the end of April which should help build inventories ahead of the summer driving season that officially kicks off at the end of May.
The states with the highest gasoline prices are Hawaii ($4.24), California ($4.00), Alaska ($3.82), New York, and Connecticut ($3.77 in both). The states where gas is cheapest are Montana and South Carolina at $3.28, Louisiana ($3.31), Mississippi ($3.32), and Arkansas ($3.34). Only two states — Ohio and Pennsylvania — are paying less than they were a month ago.
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today! (sponsor)
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
