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U.S. gas prices holding at higher levels

National average gasoline price holding steady.
By Daniel J. Graeber   |   June 26, 2014 at 9:20 AM   |   Comments

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WASHINGTON, June 26 (UPI) -- The average U.S. price for a gallon of regular unleaded gasoline as of Monday was 13 cents higher than last year, the U.S. Energy Department said.

The Energy Information Administration, which reviews statistical data for the Energy Department, said the average retail price for a gallon of regular unleaded gasoline was $3.70 as of Monday.

U.S. motor club AAA said in a Monday report the national average so far for June is the highest for the season in six years. It said violence in Iraq is contributing to an increase in global crude oil prices, which in turn makes it more expensive to produce gasoline.

AAA said it had expected gas prices for June to fall within the $3.50 range for a national average. That now appears unlikely, it said.

EIA said Wednesday retail gasoline prices have increased in all regions across the country. Midwest prices had leveled out at around $3.69 per gallon, though AAA reports state averages in the region are on the rise.

Gasoline prices near the Gulf Coast and in the Rocky Mountain region have increased the most, while gasoline prices for West Coast commuters have increased by only a penny.

AAA reports a national average price Thursday of $3.68 for a gallon of regular unleaded, up about 1 cent from the same time last week.

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