Summertime blues: Gas prices to jump 14 percent

Lynn Cook
April 15, 2018

Experts say the rising prices can be blamed on higher crude oil exports due to fears of military action in Syria. The average price in North Dakota was $2.55.

The EIA forecasts average summer retail prices to range from a high of $3.22 a gallon on the West Coast, to a low of $2.45 on the Gulf Coast.

According to GasBuddy historical data, gasoline prices on April 9 in NY ranged widely over the last five years: $2.46 a gallon in 2017, $2.17 in 2016, $2.55 in 2015, $3.75 in 2014 and $3.84 in 2013. Prices at the fuel pump are expected to be 14 percent higher than last summer and the US government predicts a national average of $2.74 per gallon. The state average Sunday was $2.46, 15 cents higher than one month ago and 32 cents higher than the same time previous year.

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According to industry analysts with gasbuddy.com, the price of gas will continue to rise.

"We've seen an increase in gas prices gradually over time, and people seem to be absorbing that", Gamble said.

"The potential trade war with China has a possible effect on gas prices, and of course oil prices have been going up", he said. Additionally, demand for gasoline remains robust.

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DeHaan said there's also an increase in driving as the winter thaws.

"The national gas price average has now reached its peak from 2017 at $2.67 for a gallon of regular unleaded, said Daniel Armbruster, AAA Texas/AAA New Mexico Spokesperson".

"We go home maybe two times a year now", said one driver who now lives in Alabama, but is originally from New Orleans.

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Brent Crude costs more than 71 dollars per barrel. WTI took a hit alongside the equities market in the U.S. According to EIA reports, crude exports hit a record high of 15.2 million barrels last week.

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