Gas prices higher locally, statewide

  • Gas prices higher locally, statewide

Gas prices higher locally, statewide

Locally, motorists in the Bradenton-Sarasota area were seeing one of the lowest averages ($2.56) in the state, though that's likely of little consolation since prices are about 20 cents higher than a year ago.

That's a 14% jump, up from $2.41 a gallon past year.

Stephanie Milani with AAA Tennessee says gasoline prices have risen about 6 cents in the past week, but a much sharper rise in pump prices is just ahead. "However, higher oil prices have also enticed US producers to ramp up crude oil exports, effectively draining USA oil inventories at a higher pace than that oil is being replaced", he said. The new highest average of price per gallon of gas on Long Island this year is $2.82 per gallon.

Gas prices are poised to spike, as analysts say the conflict in Syria has pushed crude oil prices to their highest levels in more than three years.

The average price in the state is $2.48 per gallon of regular, an increase of five cents from last week and nearly 22 cents from March. Last month, the national average was $2.533, while the year-ago average was $2.413.

"In the past few years we've had such an abundance of crude oil that global problems really didn't phase the oil market", Jenkins said.

DeHaan said that OPEC's production cuts have removed more than 500 million barrels - about 1.8 million per day - of supply since they were enacted at the start of 2017. A look at gas price-tracking site GasBuddy shows gas stations across the city and burbs charging in that general range... although a handful of north side locations have already passed the $3 mark. "With the transition to summer gasoline also wrapping up, the reasons gas prices to rise will shrink".

Get ready to pay more to fill up your tank.

"The seasonal surge at gas pumps is in full motion, causing the most dreaded time of year for fearful motorists, especially of what may still be coming", he said. However, we're likely in the closing innings of the seasonal rise.

"That could be very close to what we expect this time around", DeHaan said.