Вторник, 24 Апреля, 2018

Here's why NC gas prices are surging

Inc. All rights reserved. This material may not be published broadcast rewritten or redistributed Inc. All rights reserved. This material may not be published broadcast rewritten or redistributed
Johnnie Parks | 17 Апреля, 2018, 21:44

That means, "the reasons gas prices rise will shrink", DeHaan said.

If you go to the gas pump in Baton Rouge today you should notice a slight increase in what you are paying for gas. Growing crude exports, alongside OPEC-led production cuts, have helped stocks decrease over the past year, but the year-over-year decline in stocks has contributed to higher crude prices. With Baker Hughes, Inc. reporting that the USA added seven oil rigs last week - bringing the total to 815 - crude production in the U.S.is likely to continue growing.

The price of gas locally is at its highest point in six months and nationally the average price of a gallon of gas is higher than it's been since 2015 - and analysts say prices will continue to climb.

"Expensive crude oil prices, unrest in the Middle East and strong domestic demand, are some of the factors driving spring gas prices toward new heights", said Charlotte-based Carolinas AAA spokesperson Tiffany Wright.

Diesel prices increased, but not as much, during the same period, going up by an average of 3 cents per gallon, OfReg reported.

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Oil prices are surging to the highest level since 2014 because of "fears of military action in Syria and trade conflict with China", according to GasBuddy.

Locally, prices are lower, with the Lincoln average sitting at just under $2.63 a gallon and the state average at $2.59, according to AAA. For example, the average price of a gallon of gas is higher in Scottsdale than in other parts of the Valley.

Crude prices rose more than $5 last week, which was the largest weekly increase in more than eight months. Prices traditionally start their seasonal rise in mid-February as refiners begin maintenance that enables them to transition to producing more expensive summer-blend gasoline. Since then, the highest recorded average has already surpassed this year's high.

Patrick DeHaan, head of petroleum analysis for gas price comparison site GasBuddy.com, said that's the highest national average price since July 2015.

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