Gasoline prices rise in Oklahoma after weeks of stability
Much of this week's increase can be traced to the rising price of crude oil, said Chuck Mai with AAA Oklahoma. Since late last year, the price of gasoline fell even as crude oil rose. Now they appear to be back to the historical norm of rising together.
Drivers paid an average of $3.60 per gallon in 2012, exceeding the previous average high of $3.51 in 2011, AAA said.
“However, despite record pump prices, 2012 was not the most expensive year for motorists, as demand destruction due to a still-weak U.S. economy and increases in fuel economy offset the higher price per gallon,” AAA said.
The average household consuming 1,140 gallons of gasoline paid $4,112 in 2012, according to AAA data. That's down slightly from an average of $4,127 a year earlier, when the typical household used 1,174 gallons of gasoline.
“We're spending a little bit less for fuel even though the price is higher because we're using less of it,” Mai said.
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