Gas exceeds $4 in four states, D.C.
NEW YORK — Gasoline is now more than $4 per gallon in four states and Washington, D.C., as a three-month surge in pump prices continues.
The nation’s capital, Illinois, California, Alaska and Hawaii all had average gas prices above $4 on Wednesday, according to AAA, Wright Express and Oil Price Information Service. Prices in several other states, including Oregon, Connecticut, New York and Washington, are almost there.
Nationwide, gasoline has soared by nearly 54 cents this year to an average of $3.81 per gallon.
Prices are rising as service stations pass along the higher cost of crude. Benchmark oil prices have risen by nearly 8 percent since January. Oil accounts for about three-quarters of the cost of a gallon of regular gasoline, according to the government.
Pump prices also tend to jump this time of year as gasoline suppliers sell off their remaining stocks to make room for a different grade of gasoline required in the summer. The seasonal switch causes a temporary supply dip.
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– Associated Press