Gasoline prices continue climb, likely to go higher

Vermont Business Magazine Average gasoline prices in Vermont are $3.81 per gallon, up 3 cents per gallon from last week, up 23 cents/g from last month and down 44 cents/g from a year ago. The lowest price in the state is $3.49/g in Ludlow while the highest is $3.99/g in Arlington.

Average gasoline prices in Burlington have risen 4.4 cents per gallon in the last week, averaging $3.84/g today, according to GasBuddy's survey of 100 stations in Burlington. Prices in Burlington are 21.3 cents per gallon higher than a month ago and stand 44.0 cents per gallon lower than a year ago. 

According to GasBuddy price reports, the cheapest station in Burlington was priced at $3.69/g yesterday while the most expensive was $3.89/g, a difference of 20.0 cents per gallon. 

The national average price of gasoline has risen 3 cents per gallon in the last week, averaging $3.84/g today. The national average is up 31 cents per gallon from a month ago and stands 7 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

The national average price of diesel has risen 12.3 cents in the last week and stands at $4.270 per gallon.

Statistics

Vermont USA Trend
Today 3.814 3.847 Prices Rising
Yesterday 3.807 3.853
One Week Ago 3.785 3.811
One Month Ago 3.588 3.532
One Year Ago 4.253 3.919
* Average Regular Gas Prices - Updated: 8.17.2023. 2:35 PM

Historical gasoline prices in Burlington and the national average going back ten years:
August 14, 2022: $4.28/g (U.S. Average: $3.92/g)
August 14, 2021: $3.14/g (U.S. Average: $3.17/g)
August 14, 2020: $2.19/g (U.S. Average: $2.18/g)
August 14, 2019: $2.77/g (U.S. Average: $2.64/g)
August 14, 2018: $2.97/g (U.S. Average: $2.86/g)
August 14, 2017: $2.45/g (U.S. Average: $2.34/g)
August 14, 2016: $2.18/g (U.S. Average: $2.12/g)
August 14, 2015: $2.54/g (U.S. Average: $2.66/g)
August 14, 2014: $3.65/g (U.S. Average: $3.47/g)
August 14, 2013: $3.76/g (U.S. Average: $3.52/g)

Neighboring areas and their current gas prices:
Albany- $3.96/g, up 2.3 cents per gallon from last week's $3.94/g.
New Hampshire- $3.67/g, up 2.2 cents per gallon from last week's $3.65/g.

"The national average price of gasoline continues to hold near the highest level we've seen since last October, touching $3.84 per gallon. It could climb slightly higher as we get closer to Labor Day, as oil prices remain under pressure from recent OPEC+ production cuts," said Patrick De Haan, head of petroleum analysis at GasBuddy. "While July CPI data looked pretty good with energy prices well below their year-ago level, August data isn't going to look nearly as friendly. Gasoline prices stand just over a dime away from rising back above their year ago level - something that is definitely possible by the closing summer holiday. In addition, the largest refinery in the Midwest moved up its seasonal maintenance to several weeks earlier than expected, causing a somewhat unexpected jump at the pump in the Great Lakes. Motorists will likely see a mixed bag at the pump this week, with a few states seeing prices fall slightly, while others will see the opposite."

GasBuddy is the authoritative voice for gas prices and the only source for station-level data. 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://prices.GasBuddy.com.

SOURCE 8.17.2023. GasBuddy