- Gasoline Prices on the Rise
- The Impact of Rising Gas Prices
- The Future of Gas Prices
If you’re interested in keeping up with the latest gas news in the USA, then this is the blog for you! We’ll be covering everything from gas prices and trends to new gas discoveries and developments. Stay tuned for all the latest gas news!
Checkout this video:
Gasoline Prices on the Rise
The average price for a gallon of gas in the USA has risen to $2.67, according to the latest data from the Energy Information Administration. This is a rise of 4 cents from last week, and a price increase of 13 cents from a month ago. Prices are expected to continue to rise in the coming weeks.
Average gas prices across the country
Nationally, the average price of a gallon of unleaded regular gasoline is currently $2.84, which is an increase of 3.4 cents from last week and 34 cents from this time last month, according to GasBuddy’s daily survey of 5,345 gas outlets. The national average has risen for 25 consecutive days and stands 52.6 cents per gallon higher than a year ago.
“The steady drumbeat of increases at the pump has continued unabated for nearly a month now as we’ve seen oil prices surge and refinery utilization tighten in advance of the summer driving season,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Unfortunately for drivers across much of the country, there’s little relief in sight as retailers have passed along nearly every penny of recent wholesale cost increases to consumers.”
DeHaan added that while some states have seen prices hold relatively steady in recent days or even decline slightly, others have not been so fortunate. “Motorists in California, Hawaii, Washington and Alaska are really feeling the pinch at the pump as retail averages there have now eclipsed $3.50 per gallon in some areas,” he said. “On the other hand, drivers in Indiana ($2.70), Ohio ($2.72) and South Carolina ($2.74) are paying about 40 cents less per gallon than they were a month ago.”
How gas prices have changed in the last year
According to the Energy Information Administration (EIA), gasoline prices have risen significantly in the last year. In fact, the national average price for a gallon of gas is now $2.96, which is up from $2.41 last year.
So why the sudden increase? There are a few factors at play. First, crude oil prices have been on the rise due to increased global demand and production cuts by OPEC countries. This has led to higher costs for refining gasoline, which is then passed on to consumers. Additionally, many states have implemented gas taxes in order to raise revenue, and this has also contributed to the rise in prices.
With summer travel season right around the corner, it’s worth considering how these higher prices will impact your plans. If you’re hitting the road, be sure to budget for additional costs and plan your stops accordingly. And if you’re staying close to home this summer, take advantage of lower gas prices by carpooling or taking public transportation when possible.
The Impact of Rising Gas Prices
Rising gas prices are having a major impact on the economy in the USA. The cost of living is going up, and people are struggling to keep up. Here’s what you need to know about gas prices in the USA.
How rising gas prices affect consumers
Rising gas prices always have an impact on consumers, both in terms of how much they spend on gas and how much they spend on other things. Here are some ways that higher gas prices can affect consumers:
1.Take public transportation more often
3.Buy a more fuel-efficient car
4.Cut back on other discretionary spending
5.Make fewer trips overall
How rising gas prices affect businesses
The price of gasoline is on the rise again, and that means businesses across the country are feeling the pinch. Rising gas prices can have a ripple effect on all sorts of businesses, from trucking companies to grocery stores. Here’s a look at how some businesses are being affected by higher gas prices:
Trucking companies: Higher gas prices mean higher operating costs for trucking companies. That’s because fuel is one of their biggest expenses. To offset those higher costs, many trucking companies are passing on the additional expense to their customers in the form of higher shipping rates.
Grocery stores: Grocery stores are also beingaffected by rising gas prices. That’s because many grocery stores rely on trucking companies to deliver their merchandise. As fuel prices go up, so do the shipping rates that grocery stores have to pay. To offset those higher shipping costs, many grocery stores are raising their prices on food and other merchandise.
Restaurants: Restaurants are another business that’s feeling the pinch from rising gas prices. Many restaurants rely on deliveries from suppliers, and those delivery fees are going up as fuel prices increase. In addition, many restaurants have employees who drive to work, and those employees are spending more on gasoline as well. As a result, many restaurants are raising their prices to offset the additional costs they’re facing.
The Future of Gas Prices
As we approach the end of 2019, the future of gas prices still remains uncertain. Many experts have predicted that gas prices will continue to rise in 2020, while others say that the market is due for a correction. So, what can we expect in 2020 when it comes to gas prices in the USA?
What experts predict for gas prices in the next year
The cost of crude oil has been on a roller coaster ride in recent years, and with it, the price of gasoline. In 2014, prices plunged as U.S. production reached its highest level in nearly three decades. Then, in 2015 and 2016, they rebounded sharply as OPEC cut production to prop up prices.
Now, with crude hovering around $50 a barrel and gasoline prices nationally averaging $2.39 a gallon—almost 50 cents higher than a year ago—what’s in store for the months ahead?
Here’s a look at what some leading experts are predicting:
One of the world’s leading gas price-tracking websites, GasBuddy.com is forecasting that the national average for regular unleaded will peak at $2.70 a gallon in May, before falling back to $2.60 by Labor Day and then sliding below $2.50 by Thanksgiving. The website is attributing the expected rise in prices to higher crude oil costs and increased summer travel demand.
### The Oil Price Information Service (OPIS)
An independent energy research firm that provides pricing information to the petroleum industry, OPIS is predicting that the national average could jump as high as $2.80 a gallon by June before retreating somewhat later in the summer months. The main reason: An expected surge in summertime driving demand combined with major repairs needed at several large U.S. refineries that process crude into gasoline and other fuels.
### Patrick DeHaan, head of petroleum analysis for GasBuddy
A respected voice in the gas price forecasting world, DeHaan is predicting that the national average will top out at around $2.75 this summer before easing back below $2.60 by late August or early September—just in time for Labor Day weekend driving trips. One wild card that could push prices even higher: potential tensions with Iran that could lead to production cuts by OPEC and other major crude suppliers later this year or early next year
How to prepare for rising gas prices
Consumers can prepare for rising gas prices by making fuel-efficient choices when buying a new car, keeping their car properly maintained, and planning their trips.
Today’s consumers are very aware of how much they spend on gasoline. In fact, most people consider the cost of gasoline when making major purchase decisions, such as what car to buy. With that in mind, when you are ready to buy a new car, do your research on fuel efficiency. Many websites can help you compare the fuel efficiency of different models of cars. The United States Department of Energy’s Fuel Economy website is a good place to start your research
Once you have purchased a fuel-efficient car, it is important to keep it running smoothly. Proper maintenance not only helps your car last longer, but can also improve its gas mileage by up to 4%. Check your owner’s manual for specific maintenance recommendations for your make and model of vehicle. In general, however, you should keep your tires inflated to the proper pressure, get regular oil changes, and avoid excessive idling.
Finally, think about your driving habits and try to make changes that will minimize the amount of gasoline you use. For example, plan your errands so that you make fewer trips overall. You can also try consolidating errands with friends or family members so that you can ride together and save gas. Carpooling is another option that can help reduce the amount of gasoline you use.