2012 Summer Gasoline: The Four-Dollar Question
THIS WEEK IN PETROLEUM REPORT RELEASE – April 11, 2012
The question frequently posed by the news media as we head into summer, the peak driving season, is whether or not retail consumers will be paying more than $4 per gallon for regular gasoline when they fill up their tanks. While the national average retail price for regular gasoline still hovers just under that mark at $3.94 per gallon on April 9, in many areas this question has already been answered. Consumers on the West Coast have been paying more than $4 per gallon, on average, since the end of February. Likewise, retail prices in the Chicago area have averaged more than $4 per gallon for the past month. But other areas have prices still below $4 per gallon, such as the Rocky Mountain region, where prices averaged $3.79 per gallon on April 9, as refiners supplying that area have access to discounted land-locked crude oil.