Published: Mon, April 16, 2018
Finance | By Claude Patterson

LI gas prices continue to climb

LI gas prices continue to climb

Month over month, the price is up almost 18 cents a gallon and is about 30 cents a gallon higher year over year. According to GasBuddy, prices in Colorado rose a little over six cents in the last week. "However, higher oil prices have also enticed US producers to ramp up crude oil exports, effectively draining USA oil inventories at a higher pace than that oil is being replaced", he said. "Crude oil is selling at high prices compared to previous years and domestic gasoline demand has been high most of the winter among the factors all driving gas prices up and draining consumers' wallets".

This comes on the heels of recent weeks of flat prices or slow cost increases, when crude oil prices were hit by some steep dips in stock markets and concerns about a tariff battle between the United States and China.

If you go to the gas pump in Baton Rouge today you should notice a slight increase in what you are paying for gas.

Gas prices as of Sunday, were 30-cents higher than they were this time previous year.

"There is tremendous volatility in the oil and gasoline market", AAA spokeswoman Jeanette Casselano said.

Patrick DeHaan, head of petroleum analysis for gas price comparison site GasBuddy.com, said that's the highest national average price since July 2015. The conflict in Syria sent crude prices to their highest point in more than three years, and as a result, motorists are about to feel the pain at the pump.

"That could be very close to what we expect this time around", DeHaan said.

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.

DeHaan said refinery maintenance has gone well so far, gasoline supply has continued to increase and the transition to summer gasoline supplies is nearly finished.

States with the highest average gasoline prices: California ($3.55), Hawaii ($3.48), Alaska ($3.22), Washington ($3.20), Nevada ($3.11), OR ($3.09), Utah ($2.97), Pennsylvania ($2.94), Idaho ($2.93) and NY ($2.80).

Gas prices are continuing to rise in Decatur and the state.

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