Tuesday, 16 January 2018
Latest news
Main » Gas prices could reach four-year high in 2018

Gas prices could reach four-year high in 2018

13 January 2018

GasBuddy's 2018 Annual Fuel Outlook, being released tomorrow morning, will be giving motorists a good look at what to expect in the year ahead. According to AAA, the first part of a new year is traditionally strong for oil prices.

Sunday national gas price average is $2.49, which unchanged in the last week, up a penny in the last month and 12 cents higher than this time past year.

Looking state-by-state, the largest weekly changes in average gas prices were seen in: in (-7 cents), MI (-7 cents), OH (-5 cents), Minnesota (+4 cents), CT (+4 cents), Alabama (+3 cents), California (+3 cents), IL (-3 cents), Idaho (+3 cents) and Kentucky (-3 cents). Falling demand tends to lead to a buildup in inventory and, thus, to lower prices during the period. Seasonal price differences such as formulation changes from winter-to summer and then summer-to-winter blends, are just the first of many factors influencing pump prices in both the USA and Canada.

Gear up for higher gas prices, Mississauga! The EIA pegged gasoline demand at 9.485 million barrels a day for the week ended December 22, from 9.278 million barrels the same time previous year.

Motorists in some states have seen a decline in gas prices, with prices falling 10 cents on the week in IN, 7 cents in OH and 6 cents lower in MI, the motor organization found.

4-year-old OH boy dies from the flu
Each Friday, the Kane County Health Department releases statistics providing an overview of influenza within the county. Ruth Gratton, manager of infectious diseases at the health unit, said that number is not unusual for this time of year.

Nationwide, the average price of gas is expected to reach or exceed $2.70 a gallon in April and May, GasBuddy reported.

Duane Self said he, too usually pumps his gas at Chevron stations but said pump prices in general are "ridiculous".

It says the yearly national average will rise 19 cents vs. last year, to $2.57 per gallon of unleaded regular gas.

"That is called the 'spread, ' and we've noticed it getting wider in recent years, which is why pump prices seem to change so often", DeHaan said.

"I would be shocked if we saw greatly increased prices in gasoline in 2018", said Skylar McKinley, spokesman for AAA Colorado in Denver.

Gas prices could reach four-year high in 2018