Start Comparing Rates within Minutes!
Start Comparing Rates within Minutes and you could save!
Compare Rates Within Minutes!
- Complete 1 short quote form
- Compare rates from top insurers
- Save time & money!
Gasoline now $4 per gallon in five statesPosted On Mon, April 18, 2011
The rising cost of gasoline is showing no signs of letting up, as $4 per gallon is now the average price in five states.
According to the Associated Press, that list could soon reach a half-dozen, as New York is a few cents away from joining Hawaii, Alaska, California, Illinois and Connecticut as states where the cost of gas exceeds the national average by at least 20 cents.
At $3.81, gas prices have risen approximately four cents over the past week, according to GasBuddy.com. Gasoline costs averaged $3.53 in March and were $2.87 one year ago.
This is the most precipitous rise in gasoline since 2008, when the nationwide average peaked at $4.11 in July, according to the website. By December of the same year, however, prices dipped to an average of $1.61.
Industry analysts aren't expecting a similar price drop any time soon, but high gas fees may lead to auto insurance savings. According to the Consumer Federation of America, driving less as a result of high gas costs can lead to as much as $94 in insurance savings annually.
Feedback or questions? Email the editor here.