01/13/2011

New Year Brings Rising Gas Prices

During the first week of the 2011 New Year, the average price of gas was $0.41 higher than it was last year. The average price of diesel fuel was $0.53 higher. Consumers will be seeing the numbers at the pump creeping up.  Increases are likely to impact sales and resale values of compact cars and large SUVs.

Increasing diesel prices will mean that the rates for auto transportation will go up as well. As carriers and trucking companies pass on their cost to the end consumer, prices will adjust accordingly. Fuel is by far the biggest expense for trucking companies in US.

Here is a look at the averages gas prices across the country now, via Consumer Reports:

National regular gasoline pricesPriceChange from last week
Regular gasoline/gallon$3.07↑ .02
Diesel fuel/gallon$3.33↑ .04
Regional regular gasoline prices
East Coast$3.08↑ .02
—New England (NY, NJ, MA, RI)$3.14↑ .02
—Central Atlantic (VA, MD, NC, DE)$3.13↑ .02
—Lower Atlantic (SC, GA, FL)$3.03↑ .02
Midwest (IL, OH, IN, MO, IA, MI)$3.06↑ .02
Gulf Coast (TX, LA, AL, MS)$2.92↑ .03
Rocky Mountain (CO, WY, KS, UT)$2.85↑ .02
West Coast (WA, OR, AZ, NV, ID)$3.24↑ .02
—California$3.31↑ .02

Author: Alex Marinov

Alex Marinov is the president of RCG Logistics LLC, with years experience in the shipping and freight industry. His main interest include sustainable building design, video production and automobiles.