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Gas prices creep higher for second straight week

BALTIMORE, MD—The national average gas price increased for the second consecutive week, reaching $3.11 per gallon, according to GasBuddy data. This represents a 2.7-cent increase from last week, a 2.2-cent rise over the past month, and is 39.7 cents lower than a year ago.

The surge in prices is attributed to refinery issues on the West Coast, particularly in California, where gas prices are forecasted to jump 10-35 cents per gallon in the coming weeks. Patrick De Haan, head of petroleum analysis at GasBuddy, warns that motorists in the Northeast should also expect an increase as the transition to summer gasoline approaches.

De Haan anticipates a potential peak in gas prices in mid-to-late April, with prices likely to rise in most, if not all, states. He also notes that the uncertainty surrounding potential tariffs on Russian oil could further impact pump prices.

The national average diesel price also saw a slight increase, rising 0.9 cents to $3.558 per gallon.

Oil prices experienced a small uptick in early Monday trade due to concerns over a potential trade war and renewed refinery issues. WTI crude increased to $69.57 per barrel, up from last week’s $68.62, while Brent crude rose to $74.13, up from $72.51. Despite worries of a slowing global economy and new sanctions on Iran, Venezuela, and Russia, oil prices have not fallen more because of sanctions.

See previous gas price reports here

In and around the Nottingham area, the cheapest gas this week could be found at these locations…



This article was written with the assistance of AI and reviewed by a human editor.

Photo via Pixabay

 

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