At a time of year drivers expect to see some gas price relief following the end of the summer vacation season, prices at the pumps across the U.S. just hit a high for the year and further increases may be in store.
the average price of a gallon of regular on Tuesday came in at $3.88, the highest yet in 2023 and 20 cents more per gallon than a year ago. While Utah gas prices were averaging $4.29 on Tuesday and only up about 3 cents per gallon from this time last year, Utah is currently among the top 10 most expensive states to fill up your tank.
AAA spokesman Andrew Gross said the production cuts are offsetting the typical seasonal declines as demand drops off ahead of the start of fall. Besides taking a bigger bite out of household budgets when it comes to keeping vehicles on the road, energy costs in general, and the cost of gasoline in particular, have helped drive up overall inflation. Higher fuel prices contribute to elevated costs across the economy as retailers and suppliers pass on the higher expenses of shipping and distribution.
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