Gas Prices Rise Multiple Days in a Row — Disturbing New Trend
(RepublicanNews.org) – Drivers in America were struggling at the pump as gas prices surged to all-time highs. Many likely enjoyed the consistent fuel price decrease that occurred over the summer. However, some may be feeling concerned again as the cost of gas has started to creep upward once again. How high will the numbers reach this time?
Gasoline prices rise for a fifth straight dayhttps://t.co/cp4YBZLjji
— FOX Business (@FoxBusiness) September 25, 2022
The American Automobile Association (AAA) recently reported the average price for a gallon of regular unleaded gasoline rose to $3.72, increasing by a nickel in a week. Most of the surge can be attributed to supply chain disruption on the West Coast and in the Midwest, where there’s been issues at refineries due to a fire and scheduled maintenance, causing the increase. Prices would have skyrocketed, but low demand helped cushion some of the blow.
Andrew Gross, a spokesperson for the AAA, noted the minimal demand and low oil prices could take pressure off fuel cost increases. However, Hurricane Ian could alter the situation by disrupting oil production, depending on its impact on coastal refineries.
Recent data from the Energy Information Administration showed a decrease in demand. Additionally, the current level of gasoline increased by 1.6 million bbl (a billion barrels of petroleum liquids). Provided the demand for gas remains low and oil prices don’t fluctuate, the potential for increased costs at the gas pump will likely remain nominal.
Have you noticed gas prices increasing where you live?
Copyright 2022, RepublicanNews.org