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After a slight decline during Easter, gas prices are once again climbing back up as crude oil does the same.
The national average stands at $2.46 for a gallon of regular, the lowest price since 2009 at around this time, reports The Detroit Bureau. The price is a 7-cent increase over the past week, thanks to crude oil prices climbing 17 percent since the start of April due to a combination of decreased U.S. output, ongoing refinery issues, and possible new geopolitical issues in the Middle East.
Heading into the summer, speculation points to an oil glut as Cushing, Okla.’s storage hub quickly climbs to capacity, though a recent drop in oil levels reported by commodity intelligence company Genscape has allayed those concerns for now. The aforementioned refinery issues are another factor in pricing with the West Coast remaining on the high end of the scale.
Currently, California holds the highest average at $3.15/gallon while Alabama and Mississippi are neck-and-neck for the lowest average at $2.24 and $2.23 per gallon, respectively.
[Photo credit: Cameron Aubernon/Instagram]
The post Gas Prices Rising Again Behind Crude Oil Pricing Climb appeared first on The Truth About Cars.
