Gas prices, most other fuels head higher
STAFF REPORT | August 25,2013
Gasoline prices in Vermont spiked 20 cents a gallon over the last month to an average of $3.75 a gallon, according to the state’s monthly fuel price report.
Prices are nearly 8 cents a gallon higher than a year ago when the average price for regular gas was $3.675 a gallon.
The average August price for heating oil in the state was $3.592 a gallon compared with $3.497 a gallon last month. Prices are only slightly higher than a year ago, when heating oil averaged $3.609 a gallon.
With the exception of propane, other fuel prices also posted increases over July.
Propane averaged $2.92 a gallon, a penny less than a month ago; kerosene, $4 a gallon, an increase of 4 cents; and diesel, $4 a gallon, an increase of 6 cents.
The Energy Information Administration reported that rising crude oil prices and seasonal demand contributed to the price of gas increasing from an average of $3.50 a gallon July 1 to $3.63 a gallon Aug. 5.
The EIA is forecasting that prices will average $3.59 a gallon in the third quarter.
For the year, the average price is expected to decline from an average of $3.63 a gallon last year to $3.52 a gallon this year. The EIA expects that in 2014 prices will head lower, averaging $3.37 a gallon.