Gas Prices Skyrocket as Summer Approaches

By Jesse Sokolow on 9 April 2019
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Gasoline prices in New York in January 2015

The price of a gallon of gasoline at the pump has skyrocketed in some parts of the United States as oil refineries switch to summer-blended fuels.

The annual changeover is being exacerbated by OPEC and its allies who have taken one million barrels a day off the market for the moment.

Gas prices in California are approaching $4 a gallon according to the according to the Energy Information Administration, while the national average is $2.745, up $0.054 from a week ago and $0.051 from the same period last year.

Experts expect prices in California to top $4 this week. GasBuddy’s head of petroleum analysis warned of the price rise in a tweet on Sunday, saying that “a trifecta of issues is causing gas prices to surge.”

The price of a regular gallon of gasoline on the East Coast was $2.653, while the Gulf Coast enjoyed the lowest prices in the nation, at $2.452.

Diesel prices are up similarly. The average price of a gallon of diesel fuel was $3.093 in the United States, up $0.015 from a week ago and $0.050 from the same period last year.

(Photo: Accura Media Group)