Gas prices will rise this summer but should remain low

Tammy Harvey
April 13, 2017

Average retail gasoline prices in OH have risen 7.3 cents per gallon in the past week, averaging $2.37 per gallon on Sunday, according to GasBuddy's daily survey of 5,345 gas outlets in Ohio. As of Friday morning, the average per-gallon price for gasoline was $2.39, or an increase of about one penny from Thursday, according to gas tracking site GasBuddy.

In Allen County, gas prices were 20 cents higher than last month's average of $2.17 and were up 34 cents from last year's average of $2.03.

A steady rise in oil prices means drivers will be paying more at the pump this summer than a year ago, the federal government said in a forecast on Tuesday. Prices at the pump were 24.3 cents cheaper last month, and 42 cents cheaper this time a year ago, a study by gas price comparison app GasBuddy found. Florida's average price of $2.42 is the highest since August 2015. "In fact, we're closing in now on $53 per barrel, coupled with the fact that many areas are switching to reformulated gasoline, a type of expensive summer gas, and that's really causing a jump at the pump".

The U.S. now produces so much more oil than it did in years past that oil prices, and in turn gas prices, are much lower than they were a couple of years ago.

Gas prices in MA are up 5 cents from last week - the biggest jump since early January, according to AAA Northeast.

"It would take a sudden, unexpected price increase before most drivers would consider driving less". That was an average increase of 6.5 cents in a week on the two surveys.

While the continued increases are completely seasonal in nature, it's not any easier for motorists to digest, said DeHaan.

AAA has been forecasting a long march to higher summer prices since February.

Whether crude prices continue to trend higher depends on a mix of factors, including whether members and non-members of OPEC will extend agreements limiting production, and whether last week's cruise missile strikes in Syria will lead to further hostilities and affect oil-producing countries in the region, AAA said. Declining inventories can signal rising gas prices. But that's 14 cents higher than Alabama's $2.14 a gallon.

The title of most expensive gas in California on April 7 goes to an independent retailer in the Mojave Desert hamlet of Essex, which wants $5.009 per gallon, according to the price comparison website New Jersey's $2.34 is up 50.3 cents from previous year.

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