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SALT LAKE CITY — Gas prices in Utah remain among the highest in the nation despite a recent drop at the pumps.
At $3.15 per gallon, Utah has the ninth highest average price in the country, according to AAA Utah. After subtracting state and federal taxes, Utah has the third highest price at $2.72.
Idaho is the highest before taxes at $2.77, and Wyoming is second at $2.76.
Of the Utah cities AAA surveys, Vernal has the highest average price at $3.40 and Salt Lake City has the lowest price at $3.07.
Utah gas prices are 9 cents less than a week ago and down 23 cents from a month ago. A year ago, Utahns paid an average of 8 cents more per gallon.
Absent any unanticipated market-changing events this winter, prices are expected to remain relatively low, according to AAA. It forecasts Thanksgiving gas prices will be the lowest since 2009.
"The price at the pump has dropped 77 cents from the 2014 peak of $3.70 (April 28). This represents an estimated savings of more than $250 million each day for American motorists," said Rolayne Fairclough, AAA Utah spokeswoman. "A decrease in retail gasoline prices is likened to a tax cut because it can inject billions of dollars in non-gasoline spending into the economy."
The multi-month drop in crude oil prices for West Texas Intermediate has fueled the decline in gasoline prices, according to AAA. The highest price per barrel in 2014 was $107 on June 20. The barrel price for West Texas Intermediate dropped to a multi-year low of $77.19 per barrel last Tuesday.
The unexpected move by Saudi Arabia to lower the price per barrel for crude sold to the United States added momentum to the falling prices.
