Gas prices jump 40 cents this month | NevadaAppeal.com

Gas prices jump 40 cents this month

Nevada Appeal Staff Report

The price of a regular gallon of gas in Nevada jumped 40 cents over the past month in the biggest gain of the year.

A gallon cost an average of $2.60 Friday compared to $2.20 a month before, according to AAA.

Prices climbed 42 cents to $2.60 in Reno and 42 cents to $2.58 in Las Vegas.

Carson City prices on Friday ranged from $2.45 to $2.69 a gallon, according to http://www.nevada

gasprices.com.

The national average for a gallon of gas rose 48 cents over the past month from $2.11 to $2.59.

A gallon of a gas is $1.48 less than it was a year ago in Nevada when the price was $4.08. Prices reached a record in the state at $4.27 a gallon June 20.

Michael Geeser, a AAA Nevada representative, said prices normally jump in spring and early summer. This month’s jump is larger than normal despite low demand, however, he said.

“The recent increase has more to do with money invested in crude oil that pushed the price up than supply and demand,” he said.

Investors, particularly overseas investors, have poured money into crude oil as the dollar has weakened, he said.

Gas prices could continue to rise if crude oil investment increases, Geeser said.