Gasoline Jumps 5 Cents to $2.47 Per Gallon

The national average price for regular unleaded increased 5 cents to $2.47 for the week ending March 11, pushed higher by increasing demand, reports AAA.

Prices are now 20 cents higher than a month ago and 5 cents lower than a year ago, as prices have been steadily increasing in the past three weeks, as the price of crude oil has fluctuated. Prices in 26 states increased at least 5 cents from a week ago.

"While motorists are paying more to fill up today than at the beginning of the year, gas prices are still cheaper year-over-year by a nickel," said Jeanette Casselano, AAA spokesperson. "Pump prices will continue to increase in coming weeks, but AAA does not expect this year's high to be nearly as expensive as last year's peak price of $2.97."

States with the largest weekly increases included Indiana (14 cents), Ohio (11 cents), West Virginia (11 cents), Maryland (9 cents), Illinois (9 cents), North Carolina (8 cents), Washington, D.C. (8 cents), Virginia (8 cents), Iowa (7 cents), and Tennessee (7 cents).

States with the least expensive gasoline include Missouri ($2.21), Mississippi ($2.21), Texas ($2.22), South Carolina ($2.24), Arkansas ($2.24), Louisiana ($2.24), Utah ($2.24), Alabama ($2.25), Colorado ($2.26), and Kansas ($2.26).

Meanwhile, the average price for a gallon of diesel increased three-tenths of a cent to $3.079 per gallon from last week. The average price is 10.3 cents higher than a year ago.