Get Ready For The Most Expensive Driving Season Since 2014
- Author: Eleanor Harrison May 01, 2018,
May 01, 2018, 4:14
GasBuddy.com said gas prices in Baton Rouge last week were "30.0 cents per gallon higher than the same day one year ago".
The Dearborn-based auto club said late Sunday that the average price for self-serve regular unleaded gasoline was about $2.85 per gallon.
There was another price spike over the weekend and experts are saying consumers may have to deal with the highest gas prices in four years this summer. New Jersey drivers are paying $2.88, and in DE, gas prices are below the national average at $2.75. The national average of $2.81 is the highest since November 2014.
But in 2008, when crude oil prices shot up above $130 a barrel, gas hit $4.11 per gallon, and just five years ago, drivers were paying an average of $3.60 at the pump.
Jackson- $2.52/g, up 2.1 cents per gallon from last week's $2.49/g.
Alaska- $3.26/g, up 7.9 cents per gallon from last week's $3.18/g. "The only good news for motorists?" Despite U.S. oil production rates at 14 percent better than a year ago, inventory levels are down 10 percent.
Gas prices are advancing in almost every state, said Patrick DeHaan, head of petroleum analysis for GasBuddy.
"We're seeing a higher price environment... but I don't think we're going to look at really apocalyptic numbers", he said. "People forget very, very quickly", Kloza said, noting that the average US gasoline price remains well below where they stood five years ago at $3.60 per gallon.
AAA also says gas prices are expected to continue to rise with the approach of the busy summer driving season.
To check out the prices from 1,106 retailers across the Twin Cities check out GasBuddy's website. There are 128 more rigs this year than this time last year.
The price of crude oil as of last Friday was over $68 a barrel. "You would have to get up into the $90 to $100 range for it to really have a big impact on growth", he said.