Gasoline prices reach above $4 per gallon in six U.S. states

The average price of a gallon of regular gasoline has reached above $4 in a total of six states in the U. S., the AAA Fuel Gauge Report revealed.

In California, the average price of gasoline slipped 0.9 cents over the last one week period but it is still above $4 per gallon- at $4.350. The figure is considerably up from $3.969 per gallon a year ago on this date.

The states where gasoline reached above $4 per gallon this week are Alaska, California, Connecticut, Hawaii, Illinois and New York.

Across the country, the average price of regular gasoline jumped 4.1 cents over the last week and 0.4 cents overnight to reach $3.842 per gallon.

Nevertheless, many analysts believe that gasoline prices haven’t peaked yet.

GasBuddy. com’s senior petroleum analyst Patrick DeHaan said, “I still maintain that prices will likely not peak until we get closer to the month of May as a majority of localities are still switching to summer gasoline.”

As per figures released by the Energy Department, the amount of fuel exported was at a record high of 3,156,000 barrels per day. The figure stands for a more than threefold rise over the amount of fuel exported ten years ago.