$4.00 a gallon - now a reality
Swirling talk of gasoline prices reaching $4 became a reality this week in areas across the country, and national averages neared or surpassed the unprecedented mark.
Regular unleaded gasoline averaged $3.79 a gallon across the country, up 39 cents from a month ago. Midgrade rose 41 cents to $4.02 a gallon. Prices for premium soared to $4.17 a gallon, up 43 cents from a month ago.
Diesel fuel also reached record prices, rising 35 cents to $4.48 a gallon, according to AAA, of Heathrow, Fla.
E85 was priced at $3.28, up 49 cents from last month. The adjusted price of E85 had the highest increase at 67 cents, reaching $4.20 a gallon. The price of E85 is adjusted to reflect the fuel’s lower energy content compared with gasoline.
AAA’s Daily Fuel Gauge Report provides national average fuel prices based on data from as many as 85,000 filling stations nationwide.
Crude oil traded at a record price of $127.82 Friday after dipping to a low for the week of $121.98 early Thursday evening. The Bush administration visited Saudi Arabia Friday in an effort to convince the Saudis to pump more oil, the Associated Press reported.
Drivers in Chicago are seeing the highest pump prices in the United States at $4.39 a gallon. Rio Rico, Ariz., has the lowest gasoline prices in the nation at $3.39 a gallon according to www.GasPriceWatch.com. The Web site relies on volunteers to report gasoline prices nationwide.
| National Unleaded Average | ||||||
| Regular | Mid | Premium | Diesel | E85 | **E85 MPG/BTU adjusted price | |
| Current Avg. | $3.79 | $4.02 | $4.17 | $4.48 | $3.28 | $4.32 |
| Yesterday Avg. | $3.78 | $4.01 | $4.15 | $4.46 | $3.30 | $4.34 |
| Month Ago Avg. | $3.40 | $3.61 | $3.74 | $4.13 | $2.79 | $3.67 |
| Year Ago Avg. | $3.11 | $3.31 | $3.43 | $2.91 | NA | NA |
| *Prices are in US dollars per gallon | ||||||
| **The BTU-adjusted price of E85 is the nationwide average price of E85 adjusted to reflect the lower energy content as expressed in British Thermal Units — and hence miles per gallon — available in a gallon of E85 as compared to the same volume of conventional gasoline. | ||||||