Gas jumps 4 cents
Average gas prices rise above $1.70 per gallon, according to AAA survey.
NEW YORK (CNNMoney.com) -- Average gasoline prices jumped nearly 4 cents on Wednesday, according to a national survey of gas station credit card swipes.
The price of gas rose to a national average of $1.727 a gallon from $1.688 a day earlier, and was selling for more than the $1.716 a gallon average reported a month ago, motorist group AAA reported.
Gas prices have been on the rise for the past nine days, according to AAA data. The trend follows a rebound in the price of crude oil, which has risen by more than 34% since Christmas.
Since the holiday, there has been some "optimism that the recession that we've been in may have reached a bottom," said Geoff Sundstrom, AAA fuel price analyst.
The investment community is also worried that disruptions of oil supplies overseas would offset the reduction in demand for fuel that has send oil prices plummeting from their record high last summer, he added.
However, "demand for gasoline is still very weak," said Sundstrom.
Gas consumption was down 3.2% in 2008 when compared to a similar length of time in 2007, according to the MasterCard Spending Pulse report, which tracks national retail sales.
"We could see a resumption of prices moving lower from now until the spring time," said Sundstrom.
State prices: On Wednesday prices remained above $2 a gallon on average in two states: Alaska ($2.53) and Hawaii ($2.294). However, gas was edging near $2 in California and Michigan, according to AAA.
Gas was cheapest in Wyoming at $1.429 a gallon on average. It sold below $1.50 on average in just one other state: Montana ($1.477).
Out of the major U.S. cities, Anchorage, Alaska, continued to have the highest average gas prices, at $2.352 a gallon, according to GasBuddy.com, a service that lets motorists post and view local gas prices online. Denver had the lowest average, at $1.402.
Prices were on the rise in most cities, according to Assuredly data.
Diesel: The price of diesel fuel, which is used in most trucks and commercial vehicles, rose 1.1 cents to an average of $2.418 on Monday.
Because of diesel's role in shipping and transport, diesel prices can also affect the prices of other goods.
Ethanol: The price of E85, an 85% ethanol blend made primarily from corn, rose as well, jumping 2.8 cents to an average of $1.533 a gallon in Wednesday's survey, according to AAA.
E85 can be used in place of regular gas in specially configured "flex-fuel" vehicles, but it is not readily available in some states.
The AAA figures are statewide averages based on credit card swipes at up to 100,000 service stations across the nation. GasBuddy prices are averages of local regular unleaded gasoline prices that about 700,000 volunteer gas prices spotters have posted online. Individual drivers may see lower fuel prices in different areas of each state. 
