Utah fuel costs nonetheless close to all-time excessive amid file inflation, Ukraine

Fuel and power costs proceed to be a significant driver of record-high U.S. inflationary pressures, and a Tuesday report from the U.S. Department of Labor discovered client costs in March continued a streak of 40-year-highs, rising 8.5% over final 12 months.

Utah, nonetheless, is amongst a gaggle of Mountain West states that’s seeing even larger value hikes, with an annual inflation charge of 10.4% in March. Other states on this group embrace Arizona, Colorado, Idaho, Montana, Nevada, New Mexico and Wyoming.

According to the brand new federal report, the gasoline value index rose 18.3% in March and accounted for over half of the all-items month-to-month enhance. Gas costs throughout the nation are up 48% over the identical time final 12 months.

The March inflation numbers had been the primary to seize the total surge in gasoline costs that adopted Russia’s invasion of Ukraine on Feb. 24. Moscow’s brutal assaults have triggered far-reaching Western sanctions towards the Russian economic system and have disrupted international meals and power markets.

And whereas many of the nation has seen common fuel costs retreat from all-time information set in early March, western states are a higher-priced outlier on this sector.

According to a day by day market report from AAA, the common fuel value in Utah on Tuesday stood at $4.499 per gallon, only a tad shy of the state’s all-time excessive of $4.508 set on April 9. The nationwide common value for a gallon of normal got here in at just below $4.10 on Tuesday.

Here are Tuesday’s Utah common value per gallon of normal by metropolitan space, based on AAA:

  • Logan: $4.473.
  • Ogden: $4.471.
  • Provo: $4.463.
  • Salt Lake City: $4.471.
  • St. George: $4.615.

Contributing: Associated Press

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