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Gas Prices Continue to Set Records

Gas Prices Continue to Set Records



Estimated read time: 1-2 minutes

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(KSL News) -- For the third day in a row gasoline prices have set an all-time record high.

The average price for a gallon of regular gasoline in America is $1.74. In California prices are well above $2 a gallon. In Utah prices range from a $1.62 to a $1.89 a gallon.

What's fueling the spike? We checked with the Department of Energy. It says instability in the Middle East has pushed crude oil prices from 65 cents to 88 cents. And refining costs are up in some areas from 20 cents to 50 cents.

But why do gas prices vary so much from state to state? The DOE notes its tax rates. Federal tax is 18.4 cents a gallon. Add to that state tax, which in Utah is another 24.5 cents per gallon and the prices add up. By the way, Utah's gas tax is the 18th highest state gas tax in the nation.

The government reminds us there are ways to save gas:
--Speeding and agressive driving, constantly accelerating and slowing down, wastes gas.
--Keep your engine tuned and filters clean.
--And keep your tires properly inflated.

Also, some cars obviously get better mileage than others. The Honda Insight gets the best mileage at 66 miles per gallon.

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