Utah gas prices surge amidst regional challenges, supply issues ahead of summer travel - KUTV 2News

Utah gas prices surge amidst regional challenges, supply issues ahead of summer travel | KUTV

SALT LAKE CITY (KUTV) — Gas prices in Utah have risen significantly in recent weeks, causing concerns among residents.

According to AAA spokesman, Julian Paredes, while neighboring states and other parts of the country have experienced a decline in gas prices, Utah has faced an upward trend at the pump.

During his monthly news conference Thursday, Gov. Spencer Cox addressed the issue, highlighting the limited refining capacity in Utah, which has led to the need for importing gasoline and increased costs.

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Building new refineries has been challenging due to the federal administration's stance on oil and gas development, causing market hesitation in investing in such projects.

Paredes said the average gas price in Utah surged by about 20 cents per gallon in just one week. He said the switch to the more expensive summer blend of gasoline could be a contributing factor, as well.

"This blend typically adds 10 to 15 cents per gallon to the price,” he said.

Additionally, he said that supply problems in surrounding states – particularly Arizona – may be contributing to Utah's rising gas prices.

"Refinery maintenance in Arizona has resulted in some of the highest gas prices in the country recently, leading to the potential redirection of gas from Utah to address supply issues,” he said.

Paredes acknowledged the uncertainty surrounding when gas prices may decrease, saying it depends on the resolution of regional supply problems and their impact on the market.

With the summer travel season approaching, residents have been advised to be prepared for the possibility of continued elevated gas prices in the near term.