Gasoline prices move up in the new year

Tammy Harvey
January 13, 2018

The average price in Minnesota was about $2.41 a gallon - up about 7 cents over the previous week, and up about a dime over a year ago, according to GasBuddy. Last week, the average was $2.20 in Lauderdale County and $2.17 in Colbert County, according to the survey.

Nationwide, the average price of gas is expected to reach or exceed $2.70 a gallon in April and May, GasBuddy reported. "Yet understanding many integral to providing a thorough and balanced outlook on gas prices for 2018", said Patrick DeHaan, head of petroleum analysis at GasBuddy. He says the cold weather has meant more crude oil is needed to produce home heating oil.

Omaha- $2.47/g, up 6.3 cents per gallon from last week's $2.41/g.

"We rank the 25 markets with the lowest gas prices in the country, but I would guess Waco is about 27th or 28th", he said. Inventories of refined products have seen an impressive build in the last week, and there's a strong likelihood that we may soon begin to see the national average falling toward the end of the month.

According to the Energy Information Administration in last week's report, oil inventories tumbled by 7.4 million barrels, leaving them almost 55 million barrels under a year ago.

DeHaan also tweeted around noon Thursday that refinery concerns in IL have pushed gas prices in IN and other parts of the Midwest to level in a "league of their own".

AAA found regular gas in MA for sale as cheaply as $2.31 per gallon and as expensive as $2.79 per gallon. Direct moves by governments to increase fuel taxes, as seen in California in November or carbon taxes introduced in Alberta and Ontario in 2017, also add to the prospect of higher prices for fuel in the year ahead.

Prices jumped 9 cents in Illinois, Delaware, and Michigan, AAA said.

Severe winter weather put a strain on the US energy grid, but low consumer demand for gasoline left the price at the pump stable, market reports found.

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