Lockport Union-Sun & Journal — Even as regional prices continue to shift, the most expensive gas prices in the nation remain in Hawaii ($4.33) and Alaska ($4.04), as is historically the case, AAA said. The highest prices in the continental U.S. are in the northeast and on the West Coast, but no state is averaging more than $4 per gallon. On the day after Labor Day last year motorists in eight states were paying an average of more than $4 per gallon, including seven in the continental U.S., including New York.
While retail gas prices remain well below year-ago levels, tensions, unrest and violence in the Middle East and North Africa have kept global oil prices higher than recent summers. West Texas Intermediate (WTI) crude oil prices have now settled above $100 per barrel each day since the beginning of July due in large part to these continued reports of violence in Egypt, Libya and Syria.
At the close of Monday’s formal trading on the NYMEX, WTI settled 50 cents lower, but still well above the $100 per barrel threshold, at $105.92.