July came to an end, but rising national gas price averages did not.
The U.S. Energy Information Administration (EIA) reported average regular gasoline prices rose 2.3 cents from the previous week to $3.159 as of Monday.
Regular gasoline price averages are 98.3 cents higher than they were at the same time in 2020.
Diesel average prices rose 2.5 cents a gallon from the previous week to $3.367 a gallon. Diesel prices are 94.3 cents a gallon higher than the same time in 2020.
Although the last EIA Short-Term Energy Outlook reported projected slowing average gas prices after the Independence Day weekend, AAA said the beginning of August likely will be as expensive as the $3.15 a gallon averages reported in July. AAA cited elevated oil prices as the cause of stubbornly high averages.
“On average, motorists are paying 15 cents more to fill up since the beginning of May,” AAA spokesperson Jeanette McGee said. “August could prove to be even more expensive if crude oil prices increase, driven by market concerns of rising COVID case numbers and how that could negatively affect global demand in the near future.”
AAA reported mostly states registering average gas prices rising between two and 10 cents a gallon from the previous week.
