Gas prices higher locally, statewide

Lloyd Doyle
April 16, 2018

The report notes, "regional differences in retail gasoline prices can be significant". Nationwide, energy experts are forecasting gasoline prices to stay pegged at their highest levels since 2015.

The average price in the state is $2.48 per gallon of regular, an increase of five cents from last week and nearly 22 cents from March.

Prices this week are 45.8 cents per gallon higher than the same day one year ago and 41.4 cents higher than a month ago. In San Francisco, gas was going for an average of $3.65. Prices are 30 cents higher than a year earlier statewide, according to the GasBuddy website.

San Francisco - $3.65/g, up 3.1 cents per gallon from last week's $3.62/g.

What's worse? While analysts are predicting a 15-cent surge this week, "Prices could rise even more, depending on how the crude market responds to the latest news of a US missile strike over the weekend", AAA spokesman Mark Jenkins said.

So what happened last week to change things?

That means Orlando could see prices in the high $2.70s soon, said Mark Jenkins, a spokesman for AAA. Although Syria is not a major oil producer, AAA says tension in the country could ripple to other countries in the region and restrict global oil supply flows.

For perspective, crude oil was hovering around $48 a barrel back in September 2015. But the US dispute with Syria and the start of the traditionally busy spring and summer travel season are likely to push prices higher at the pump.

"Ultimately, (the Organization of the Petroleum Exporting Countries) bears much of the responsibility for cutting oil production in 2017, leaving USA oil inventories at far lower levels than a year ago". Since then, the highest recorded average has already surpassed this year's high. "But the recent OPEC cuts have made that a little tighter".

The price of gas has been increasing since February.

Gas prices are continuing to rise in Decatur and the state. And California's relatively healthy economy has prompted Golden State residents to hit the road well before the traditional summer driving season.

Meanwhile, demand for gasoline in the United States is essentially flat from past year. "If demand stays strong, the price of fuel is likely to keep rising".

Michigan's lowest average price was about $2.69 per gallon in the Marquette area.

Other reports by Iphone Fresh

Discuss This Article