Nevada Gas Prices Hit All-Time High

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Gasoline prices in Nevada have hit new record highs and the upward trend is unlikely to recede in the coming weeks, AAA Nevada said Wednesday.

According to the automobile club's monthly price survey, the statewide average for a gallon of regular self-serve unleaded was $2.12 - up 6 cents since March and 45 cents since January.

Prices in some areas of the state were even higher.

In Las Vegas and North Las Vegas, the average price was $2.14 a gallon, an increase of 4 cents over the previous month.

Drivers in Reno and Carson City were paying an average $2.09 - up 8 cents in Reno and 11 cents in the capital city from March.

The average price in Sparks also jumped 11 cents to $2.08.

The cheapest gas was found in Elko, where the average price dropped 2 cents from last month to $1.86, AAA said.

Nationally, the average price rose 6 cents to $1.78.

With crude oil prices remaining high and the traditional summer driving season approaching, it's unlikely prices at the pump will drop anytime soon, said AAA spokesman Sean Comey.

"This probably won't be the last record high price set this summer," Comey said. "There's such a precarious balance between supply and demand for fuel, it wouldn't take much to trigger another round of price hikes."

Comey said prices can vary greatly from one gas station to another, and advised consumers to watch posted prices as they fluctuate to get the most for their money.

"The gas station with the best deal today could be one of the most expensive the next time you need to fill up," he said.

Crude oil prices have hovered around $37 per barrel.

But over the long-term, the Energy Department projects inflation and increasing energy needs of developing nations could push crude oil prices to $51 a barrel by 2025.