Saturday, 20 October, 2018

Gas prices hit highest point since 2014

Terry Gallagher of Amityville fills his truck with Terry Gallagher of Amityville fills his truck with diesel at Quick Chek in Copiague Monday
Scott Davis | 03 May, 2018, 16:04

According to AAA, the national average gas price on April 30 is $2.81, the highest since November of 2014.

An organization spokesman says crude oil prices topped $68 a barrel on Monday, and the spiking cost of crude as well as increased demand during the summer travel season will continue to drive up prices at the pump. "The current average price in Syracuse is $2.92, and we are anticipating another 5- to 10-cent increase through Memorial Day".

Chattanooga motorists are paying the highest gas prices since hurricanes Irma and Maria shut down pipelines and spiked prices in the Southeast last September.

The average gas price in Lexington is $2.78, according to GasBuddy.com.

AAA has a gas cost calculator on their website where you can plug in your destination and what you're driving and determine how much you'll like pay for gas to get there. Throughout the month, the state average rose a total of 16 cents.

Oil prices this high should not negatively impact economic growth, according to the AP.

A gallon of regular gas is $2.79

Gas prices were averaging $2.59 per gallon as of Monday's release, based on Gas Buddy's survey of 452 gas stations in the Greenville area.

"It's about $8 more a tank than it was a year ago", Krog said.

Still, prices remain well off from 2008, when crude oil prices jumped above $130 per barrel and average retail gas prices surged to an all-time high of $4.11 per gallon. Today's national gas price average is 16-cents more expensive than last month and 43-cents more expensive that previous year at this time. The U.S. has 1.1 million fewer barrels of oil than it did this time previous year, according to the AP. I was shocked yesterday when I paid $2.85 a gallon for regular.

Gas prices across the nation are at their highest point since 2014, with gas prices nearly as high as $3 a gallon, according to Patrick DeHaan, head of petroleum analysis for GasBuddy.

Average gas prices in south central OH remain at $2.732 per gallon this week, according to AAA East Central's Gas Price Report, and prices in Portsmouth are reported as among the lowest.

As a result, US crude oil inventories are down.




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