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AAA: Gas prices back on the rise

17 April 2018

For example, the average price of a gallon of gas is higher in Scottsdale than in other parts of the Valley.

"Motorists should expect a 15-cent increase at the pump in the short term", AAA spokesman Mark Jenkins said in a statement. "However, prices could rise even more, depending on how the crude market responds to the latest news of a US missile strike over the weekend".

The national average price for gasoline as of Sunday was $2.71, the highest since July 2015 and 20 cents higher than this time a year ago.

The average price in the metro Albany area Monday was $2.609 a gallon, according to AAA-The Auto Club Group, an increase of 5.6 cents a gallon over last week.

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According to GasBuddy, which tracks fuel prices, motorists weren't seeing much of a difference in prices at Manatee ($2.56 average) and Sarasota ($2.57) outlets.

In southern Ohio, Gallipolis at $2.733 and Ironton at $2.728 were the highest reported averages, while the lowest average prices were in Hillsboro at $2.372.

The most expensive were the Crestview-Fort Walton Beach ($2.80), Pensacola ($2.77) and West Palm Beach-Boca Raton ($2.76) regions. The possibility of US sanctions against Iran and another sponsor of the Syrian government, Russia, is driving up the price of crude oil, which increased by more than $5 last week.

The tension in the Middle East and fears of US sanctions against Syria's sponsors - Russian Federation and Iran - have prompted a tightening of global crude oil supplies.

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A political dispute over high petrol prices during late 2014 and 2015 led to wholesale changes in how the Cayman fuel market is governed, including the introduction of OfReg and new requirements for price reporting for Cayman's two main fuel distributors.

Crude oil prices surged last week, posting a $4 per barrel increase on the week as concerns mounted about trade tensions with China, the situation in Syria and robust demand eating into global supply.

Patrick DeHaan, the head of petroleum analysis for GasBuddy, said gas prices have peaked in mid-May the past few years as refineries finish the transition to a more-expensive summer blend. Also nationally, gas has risen 18 cents since more than a month ago.

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AAA: Gas prices back on the rise