New York residents are paying an average of $3.19 per gallon for regular unleaded gas, while across the river in New Jersey people are forking over an average of $3.16 a gallon, according to AAA’s data.<\/p>\n
California beats them all, however, with a reported average of $4.31 a gallon — making it the most expensive gas state in the union.<\/p>\n
Americans are paying an average of $3.15 per gallon for gas \u2014 the most in seven years \u2014 as the economy reopens and people hit the road in droves. AP Photo\/Nam Y. Huh<\/span> (Associated Press)<\/span><\/p>\n Black gold is currently cheapest in the south and midwest, due in part to lower taxes and fewer costs associated with transporting gas from oil wells and refineries in oil-producing states like Texas and Louisiana.<\/p>\n Mississippi currently ranks the cheapest state for gas with regular unleaded going for just $2.77 per gallon.<\/p>\n This time last year, as the pandemic put the brakes on most forms of travel, the cost of gas fell to an average of just $2.20 per gallon, according to AAA. But as more people get vaccinated, demand for petrol has soared back to life.<\/p>\n Contributing to the price surge, oil prices jumped a six-year high earlier this month after talks between OPEC and its oil-producing allies failed to reach a deal on production on July 6. <\/p>\n OIL ANALYST EXPLAINS ‘FEAR’ CAUSING PRICES TO RETREAT FROM 7-YEAR HIGH<\/strong><\/p>\n The day talks broke down, futures for West Texas Intermediate, the main US oil benchmark, advanced as high as $76.98 per barrel — the highest price since November 2014. Prices have come down slightly since, with WTI futures trading Monday at $74.14 a barrel, amid concerns that the coronavirus variants will slow parts of the global economy.<\/p>\n Still, gas prices are expected to remain lofty as more people hit the road this summer to return to work and visit family and friends.<\/p>\n Mid-grade gas prices have surged from $2.54 to $3.49 per gallon over the past year, while the cost for premium gas has jumped from $2.80 to $3.77. Diesel is currently selling for $3.27 per gallon, compared to $2.44 last year, according to AAA. <\/p>\n![](\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/06\/931\/523\/High-gas-pump-price.jpeg?ve=1&tl=1\")
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