Average gasoline prices skyrocket to highest in over a year; here’s why…


(AP/WJW) — The average U.S. price of regular-grade gasoline jumped 14 cents a gallon over the past two weeks to $2.64.

According to AAA, the country is seeing some of the most expensive prices in over a year. AAA says with the forced shutdown of the Gulf Coast and some Mid-West refineries due to last week’s winter weather, gas stocks and prices have skyrocketed.

The price at the pump has climbed 46 cents since Nov. 20. The highest average price in the nation is $3.57 a gallon in the San Francisco Bay Area.

In Cleveland, the average price of gas as of Feb. 22 was $2.64, according to AAA. In Pennsylvania, the average was $2.90.

Acccording to AAA, 66 percent of state averages spiked by double digits.

“When close to 40% of U.S. crude production is offline because refineries are closed, there is going to be pain at the pump until operations resume,” Jeanette Casselano McGee, AAA spokesperson, said in a release. “The good news is the nearly two dozen impacted refiners are expected to restart operations this week, if they haven’t already. That means regular gasoline deliveries will resume and impacted stations will be re-fueled.”

But industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that gas prices will likely continue to rise as crude oil costs remain high.

The lowest average price in the country is $2.20 in Baton Rouge, Louisiana. The average price of diesel went up 10 cents over the same period to $2.85.

FOX 8 Cleveland Weather // Quick Links:

Hot on FOX 8

More Viral

continue reading override