Strong demand, high imports and increasing production push pump prices higher.
The national average price for regular unleaded gasoline on Aug. 14 was $2.35 per gallon, up 22 cents over last year and nine cents more than a month ago.
According to a report by AAA, gas prices are up in 27 states compared to a week ago, less expensive in 12 states and flat in 12 states, with the West Coast, Rockies and Midwest regions seeing most of the increases.
AAA predicted customers will see some of the highest pump prices this year as we near the Labor Day holiday. Idaho saw the biggest increase over last week (up nine cents), followed by Indiana and Utah (both up seven cents)
AAA noted that strong gasoline production levels and seasonal demand mean prices will likely continue to climb across the country. As OPEC looks to re-double its efforts to rebalance the global oil market, any additional steps from it to curb growth in production may lead to higher oil prices.