Gas Prices Spike To The Highest Of The Year

Most of America is once again dealing with a spike in gas prices.

According to Gas Buddy’s lead economist Patrick De Hann, “The national average price of gasoline now stands at $3.73/gal, a rise of 17 cents from last week, the sharpest weekly rise in over a year, and will likely continue trending higher for now.”

It doesn’t appear as if they are going to go down anytime soon either.

It’s normal for prices to increase during the summer as people go on vacation increasing the demand for gasoline however, that’s not what is happening.

Demand is down but prices keep rising.

Production was up in the USA during the spring but hot weather in the South has caused some disturbances. Making matters worse Russia and Saudia Arabia have cut their production driving up prices.

It doesn’t appear that gas prices are coming down and we haven’t even gotten to hurricane season yet.


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