Posted on

Gasoline Prices Headed Skyward as the Summer Driving Season Nears

gas station

the staff of the Ridgewood blog

Ridgewood NJ, according to AAA ,the United States could be in for a major surge in gasoline prices with the price in some U.S. states rising to as much as $4 per gallon . Since November’s election crude oil prices have shot up ,  and according to AAA data Americans are already paying 14% more for a gallon of gasoline than they were in February.

With the summer driving season nearing and the US economy coming out of the COVID lockdown there is no relief in sight.  “With increased demand and tighter gasoline supplies, we are looking at more expensive pump prices with little relief in the weeks ahead,” Jeanette McGee, AAA spokesperson, said in an article on AAA’s website.

Gasoline inventories for week ending March 5 fell as the demand for the fuel continued to rise to levels not seen since November.

The price of WTI crude has risen sharply throughout 2021, from $36 per barrel in November 2020 to $48-something per barrel at the start of the year to more than $65 per barrel today as the supply situation begins to tighten as crude demand perks up and OPEC+ continues to restrain output.

The increase in gasoline prices over the last few weeks in particular, has been exacerbated by oil refinery outages in the United States after the devastating effects of freezing temperatures that hit Texas several weeks ago, causing widespread refinery outages that have not yet fully returned to normal. As more refinery units come back online, higher gasoline prices may be somewhat mitigated.

And prices could reach $4 in some areas by the summer months some  experts say higher during the typical height of driving season.

The areas that saw the highest increase in prices at the pump over the last week are Utah, Idaho, Missouri, Florida, Kentucky, Illinois, South Caroline, Alabama, Mississippi, and Wyoming—all who saw double-digit increases anywhere from 10 cents per gallon to 25 cents per gallon. Mississippi, however, is still the nation’s least expensive gasoline market, according to AAA.


4 thoughts on “Gasoline Prices Headed Skyward as the Summer Driving Season Nears

  1. thanks to joe biden and all you douchbags that voted for the dementia case

  2. You aint seen nothing yet….
    wait until the MASSIVE (promised) Tax Increases arrive hidden in the faux “infrastructure bill”

  3. Obviously liberals who voted for Biden don’t care. They can afford $3 heading to $4 per gallon. Next up is your federal taxes. Don’t believe for a minute those under $400k will be shielded. Your taxes are going up along w losing tax deferrals on 401k. But thank God there are no longer those mean tweets!

  4. You fucking liberal morons stole an election for what?

Leave a Reply

Your email address will not be published. Required fields are marked *