Gas prices continue to surge. As of Monday, the average cost of a gallon of was $3.30, up 7.5 cents from a month ago and $1.08 higher than a year ago, according to fuel savings app Buddy. By Tuesday, the average had crept up to $3.32 — a price not seen since 2014.
Global demand for oil remains high, yet supply remains tight. The cost of crude is above $80 a barrel, according to AAA. In August, the price per barrel was in the low $60s. Crude accounts for roughly half the price of Gas.The states with the highest average per-gallon prices are California ($4.45), Hawaii ($4.13) and Nevada ($3.90). The lowest average prices are in Texas ($2.92), Oklahoma ($2.94) and Arkansas ($2.97).
And even if the difference in price per gallon may only be a few pennies, it can still add up to hundreds of dollars per year.Even prices from one state to another can vary significantly. There are apps like Gas Buddy, Gas Guru and AAA TripTik where people can use to find the best prices along your route