Published: Mon, March 12, 2018
Finance | By Claude Patterson

Gas prices down in Pittsburgh, but a surge is expected

Gas prices down in Pittsburgh, but a surge is expected

"Oil prices remain volatile yet several dollars off recent highs", said GasBuddy analyst Patrick DeHaan in a statement.

Nationally, the average price of gasoline Sunday was $2.53 a gallon, unchanged from a week earlier, while Georgia's average of $2.40 was down two cents in the same period, according to the auto club. That compares to $2.30 one year ago.

The highest average prices per gallon last week were reported from Hawaii ($3.44); California ($3.36); Alaska ($3.11); Washington ($2.98); OR ($2.88); Nevada ($2.84); Pennsylvania ($2.78); NY ($2.70); and CT ($2.68).

Here's some good news to start your week: Gasoline prices in the Bradenton-Sarasota area fell nearly a nickel per gallon in the past week, averaging $2.46 a gallon on Monday, according to GasBuddy's daily survey of area gas outlets. Modesto- $3.19/g, up 5.2 cents per gallon from last week's $3.13/g. Crude prices have been under pressure lately as forecasts for USA oil production over the next several years continue to indicate big increases. The lowest prices are in the Traverse City area where it's about $2.53 a gallon and the highest in Jackson where its about $2.64 a gallon. Heating oil rose 3 cents to $1.89 a gallon.

"Gasoline should slide a few cents more this week, based on last week's decline in wholesale prices", said Mark Jenkins, AAA spokesman. This could lend weight to oil prices being too high, but at the same time, we continue to see if any major disruptions occur at USA refineries to offset any devaluation in the price of oil. "So far the balance is in the middle, but threats remain in the months ahead - we're still expecting a surge, so motorists aren't off the hook by any means yet".

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