Gas Prices On The Rise Across America

03 May, 2018, 12:03 | Author: Kevin Carter
  • Get ready for the most expensive driving season in years - AAA

The lowest pump price - $2.52 at Costco.

Folks are going to be spending more on gasoline in the weeks ahead.

The U.S. daily national average for regular gasoline is now $2.81 per gallon.

Some Mercer County drivers may be crossing the state line to take advantage of gas prices in Trumbull County, which according to Triple A, the average price of $2.57 is the lowest in the state of Ohio.

The price difference is due in large part to the fact that Pennsylvanians are charged 31 cents more per gallon in state gasoline taxes than Ohioans.

"Motorists have been spoiled the past few years with cheap gas prices", said Jeanette Casselano, AAA spokesperson.

As of this week, the average pump price for regular gasoline here in Billings is $2.66/gallon. These impacts on the oil market, as well as Venezuela's significantly lowered output, have caused prices to rise globally.

While motorists may feel powerless to stop the rising prices, they don't have to be resigned to paying what gas stations are asking.

More news: Golden Knights look to shake off adversity vs. Sharks

For LIVE fuel price averages, visit HERE. Already, U.S. consumer demand for gasoline hit a record high for the month of April, according to the EIA. Sunday's daily average was 5 cents more than last week, 18 cents more than last month and 51 cents more than past year. Although stocks are below the level they were at last year, they are still higher than the five-year average for the region. The average retail price in those states is running from $2.95 to $3.61 per gallon.

The data shows Friday is the worst day to buy gas.

"It seems like they may be changing patterns a little bit, but as far as canceling a trip to Maine or somewhere in New England, I don't necessarily think that happens with prices where they are going", he said.

Meanwhile, crude oil dropped 9 cents to settle at $68.10.

Mr Lanke keeps the recent increase in perspective, noting that three years ago he and his fellow Californians were paying over $4 per gallon.

What's Behind Current High Prices?

One reason oil likely won't get to that level is the emergence of the U.S.as a major global oil producer.

"That rise in USA production and further rises in US production will put a cap or a damper eventually on higher oil prices", Behravesh said.

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