Gasoline prices in Nevada have soared to record highs, now averaging $3.04 statewide and $3.16 in Reno - a full 50 cents more than it cost in Reno a month ago, AAA Nevada said Monday.
The average price in Las Vegas hit the $3 mark for the first
time at the end of last month, surpassing the old record of $2.98
set last September.
The previous statewide high of $3.01 also was set in September
2005, when the price for a gallon of regular unleaded averaged
$3.15 in Reno.
"In Reno, prices have really jumped over the past month," AAA
Nevada spokesman Michael Geeser said.
"Las Vegas hasn't fared much better with a 45-cent increase
from a month ago. Unfortunately gas prices are most likely going to
keep going up for the next few weeks before drivers experience any
relief," he said.
The driving force in the increase is the cost of crude oil,
which is trading at more than $70 per barrel, Geeser said.
Nevada's statewide average is 46 cents more than it was at this
time a year ago. It is the seventh highest in the nation and 12
cents more than the national average, Geeser said.
Geeser said prices are expected to level off and possibly even
decrease in a month or so as refineries complete efforts to remove
the MTBE additive and replace it with ethanol.
The prices Nevada AAA reported on Monday were part of a special
report on the record levels. Average prices for other Nevada cities
will be announced in the middle of the month when AAA releases it
regular monthly report.