Gas Expected to Surpass $3 A Gallon This Summer

May 1, 2018

© Daniel Korzeniewski | Dreamstime

Get ready to pay more at the gas pump this summer. The U.S. daily national average for regular gasoline is now $2.81 per gallon, up from $2.39 one year ago and it appears the prices will go even closer to $3 a gallon as crude oil prices are at their highest level in more than three years with no sign of slowing down. Oil supplies were running 1.1 million barrels lower at the start of this summer's driving season, which runs from April through September, than a year ago, according to the U.S. Energy Information Administration. However, drivers in Florida are paying Some of the lowest prices the lowest at the pumps nationwide, along with New Hampshire, Delaware and Georgia.  The highest gas prices are in California, Oregon, Washington, Alaska, Hawaii, Connecticut and Pennsylvania. Several factors have helped drive oil prices higher. A wave of global economic growth has driven up demand for oil. At the same time, production cutbacks initiated by OPEC last year have helped whittle down oil supplies.

SOURCE: Daily Mail

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