Gas prices jump 15 cents at Mobil Guam, 76

09 January, 2018, 01:00 | Author: Nina Hammond
  • New Yorkers Concerned over Rising Gas Prices

The average price of a gallon of unleaded gasoline is $2.48, AAA found, up five cents from last week's survey and 19 cents higher than the $2.29 per gallon average this week a year ago. However, historical data shows that in early January demand typical drops and stays below the 9 million mark for the first few months of the year.

"Although prices at the pump shot up over the holidays, now that the holiday season is in the rearview mirror, motorists can expect gas prices to trend cheaper this month as we are likely to see a significant drop in gasoline demand", said Tammy Arnette, Senior Public Affairs Specialist for AAA Mid-Atlantic. "Of course, this forecast could change dramatically if there are unexpected shifts in fuel supply and/or the stock market". West Texas Intermediate, a crude oil benchmark, settled above $62 a barrel last week for the first time since December 2013 as global supply levels tighten.

But it's still 19 cents higher than at this time past year in the Bay State, when prices were averaging $2.29. A year ago, the state average was $2.53.

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In Florida, the most expensive average gas price was $2.57 in the West Palm Beach-Boca Raton area. Historically, gas prices rise 30-75 cents during spring maintenance season due to the supply reduction and summer-blend switch.

Nationally over the last month, average prices went up 1.7 cents per gallon.

Weekly local news headlines from the Jackson Progress Argus.

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