Thursday, 21 September, 2017

Gas prices rise in Pittsburgh area

Gas-Price_3.2.jpg Still Asking 'Why Are Gas Prices So Low?'
Mae Harvey | 13 April, 2017, 02:13

OH drivers are seeing an increase in gas prices from a month ago. The state average rose 7.7 cents in a week to the Monday-morning benchmark of $2.276 on GasBuddy's Fuel Insights survey report.

The average price for regular gas in Cedar Rapids was $2.29 a gallon, up 6 cents from a week ago, and 33 cents from one year ago.

Per gallon, gas now averages $2.39 across the nation, according to AAA Tidewater.

On one hand, demand for gasoline is up while supplies of refined gasoline are down as refineries start switching to summer blends of gasoline, he said.

"As temperatures continue to warm up, demand will strengthen", said Patrick DeHaan, a senior petroleum analyst for Gasbuddy. In Tampa fuel prices are up 18 cents, averaging $2.39 per gallon.

AAA found that 18-to 34-year-old motorists are more tolerant of higher prices and less likely to change habits compared with motorists ages 35 and older.

AAA spokesman Mark Jenkins said spring usually brings an increase in driving, which corresponds to an increase in gas prices.

AAA reported this week that Georgia's average gas price of $2.28 is the highest since October, and the national average of $2.39 is the highest since September 2015. This week its found by volunteers for the gas price comparison website GasBuddy.com at convenience stores in Empire and Linda as well as a truck stop in Modesto.

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"This is the time of year when we're fairly accustomed to seeing these kinds of increases", DeHaan said.

The Auto Club Group (ACG) is the second largest AAA club in North America.

The average in the local market Monday was $2.413.

AAA said the crude oil market has largely recovered after spending almost three weeks under $50 per barrel.

Gas prices have already hit their highest levels this year since January.

"They did rebound a bit of their recent lows, but I don't see gasoline prices as an impediment to travel this summer". Brent crude, the standard for worldwide oil prices, added 25 cents to close at $56.23 a barrel.

U.S. West Texas Intermediate (WTI) crude futures were up 70 cents at $52.40 a barrel, having reached an intraday high of $52.94. A year ago, gas prices in Rochester were $2.13 per gallon.

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