" OGDEN — Utah is the only state to show a month-to-month decrease in the pump price of gasoline despite crude oil prices significantly higher than last year, according to a report from AAA Utah. The average price in Utah for a gallon of regular unleaded is $2.60, one cent lower than last month, but 98 cents higher than a year ago. Only Colorado, Missouri, Oklahoma and Wyoming have lower prices. The national average is $2.75 per gallon, 12 cents higher than last month and 96 cents higher than a year ago. Ogden was one of the few Utah cities that saw an increase, up 3 cents to $2.53. Salt Lake dropped 2 cents to $2.54, Logan fell 1 cent to $2.55 and Provo dropped 3 cents to $2.56. “Utah is really an anomaly right now as gas prices in the rest of the country have followed the price of oil rather than the fundamental supply and demand forces,” AAA Utah spokesperson Rolayne Fairclough said. “The price of oil has risen roughly 20 percent over the course of this past month and gasoline prices have followed, even with the seasonal low demand and continuing robust supplies.” The price of oil recently reached 15-month highs at more than $80 per barrel, as investors look to physical goods or commodities when the dollar is weak. Trackback URL for this post ":

2010-01-25

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