Saturday, 20 October, 2018

Gas Prices Hit Another High in California

Gas price average up 39 cents from one year ago in Texas AAA: 2018 summer driving season could be most expensive in years
Faye Gross | 11 May, 2018, 00:50

In Bakersfield, it's $3.58 - 60 cents higher than past year at the same time. Scottsville is a nickel higher and at $2.76 they are the highest local average. This is a drop from the previous week's high of 2.331 million barrels per day, which was the highest weekly estimate on record from the Energy Information Administration.

President's Trump plan to withdraw from Iran could impact the prices at the pump this summer, according to AAA experts.

Although Florida has avoided the full brunt of higher gas prices this week, US crude oil prices have passed $70 a barrel and fuel costs are expected to rise. As the United States pulls out of nuclear proliferation treaty with Iran, oil prices likely will rise, and perhaps rapidly.

Metro Detroit's average gas price is about $2.87 - which is also the same as last week's average. The price went up slightly in Vermont to an average of $2.79 per gallon. According to the company, if gas prices are an issue, vacationers will find savings in other areas to offset the higher prices like shortening their trip or finding a cheaper hotel.

Iran deal withdrawal, other global issues risk higher oil prices - Goldman Sachs
Saudi Arabia will seek nuclear weapons if Iran acquires them, AFP news agency reported today, quoting a Saudi minister. It is in talks with the USA to secure an atomic deal that could pave the way for the Saudi regime to enrich uranium.


Memorial Day is historically a period when prices climb as refiners and gas stations prepare for the summer driving season.

An organization spokesman says crude oil prices topped $70 a barrel on Monday, and geopolitical tensions have forced the market upward.

Gas prices in South Central Ohio fell by almost nine cents to $2.645 per gallon this week, according to AAA East Central's Gas Price Report.

Prices are now more than 43 cents higher per gallon than this time previous year and 11 cents higher than last month. Among eastern states, only Pennsylvania has an average price that high. Still, for those fearing the days of $4 summer gas, it doesn't appear likely to hit those pricing stratospheres this summer.

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