Vermont gasoline prices arcing higher, up 8 cents in one week

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Vermont gasoline prices arcing higher, up 8 cents in one week

Thu, 10/14/2021 - 12:25pm -- tim

Vermont Business Magazine GasBuddy Vermont is reporting today that the state's average price of gasoline is $3.24 a gallon, which is 5 cents lower than the US average. Prices have been rising rapidly in recent weeks as the price of world crude oil accelerates. Vermont gas prices are up 8 cents from a week ago and US prices are up 5 cents.

Meanwhile, Burlington gas prices have risen 5.8 cents per gallon in the past week, averaging $3.24/g as of Monday, according to GasBuddy's daily survey of 100 stations in Burlington. Gas prices in Burlington are 6.9 cents per gallon higher than a month ago and stand $1.12/g higher than a year ago.

Vermont's average price is up 16 cents from a month ago and $1.10 from last year.

The cheapest gas in Vermont is $3.02 in Addison and the highest is $3.49 in Marshfield.

According to GasBuddy price reports, the cheapest station in Burlington is priced at $3.09/g today while the most expensive is $3.29/g, a difference of 20.0 cents per gallon. The lowest price in the state today is $3.03/g while the highest is $3.45/g, a difference of 42.0 cents per gallon.

The national average price of gasoline has risen 5.2 cents per gallon in the last week, averaging $3.25/g today. The national average is up 7.5 cents per gallon from a month ago and stands $1.08/g higher than a year ago.

Historical gasoline prices in Burlington and the national average going back ten years:
October 11, 2020: $2.12/g (U.S. Average: $2.16/g)
October 11, 2019: $2.71/g (U.S. Average: $2.64/g)
October 11, 2018: $2.98/g (U.S. Average: $2.90/g)
October 11, 2017: $2.58/g (U.S. Average: $2.47/g)
October 11, 2016: $2.29/g (U.S. Average: $2.25/g)
October 11, 2015: $2.28/g (U.S. Average: $2.31/g)
October 11, 2014: $3.49/g (U.S. Average: $3.21/g)
October 11, 2013: $3.62/g (U.S. Average: $3.33/g)
October 11, 2012: $3.97/g (U.S. Average: $3.81/g)
October 11, 2011: $3.50/g (U.S. Average: $3.39/g)

Neighboring areas and their current gas prices:
Albany, NY- $3.32/g, up 8.9 cents per gallon from last week's $3.23/g.
New Hampshire- $3.11/g, up 7.4 cents per gallon from last week's $3.04/g.

"Last week saw oil prices advance to their highest in seven years, with a barrel of West Texas Intermediate crude oil surpassing the critical $80 per barrel level. The nation's gas prices were also pushed to their highest since 2014, all on OPEC's decision not to raise production more than it already agreed to in July," said Patrick De Haan, head of petroleum analysis for GasBuddy. "The OPEC decision caused an immediate reaction in oil prices, and amidst what is turning into a global energy crunch, motorists are now spending over $400 million more on gasoline every single day than they were just a year ago. The problems continue to relate to a surge in demand as the global economy recovers, combined with deep cuts to production from early in the pandemic. If Americans can’t slow their appetite for fuels, we've got no place for prices to go but up."

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA's once daily survey covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas stations, GasBuddy's survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.

SOURCE 10.14.2021. GasBuddy http://www.vermontgasprices.com/