Gas prices expected to rise throughout summer months

10 May, 2018, 11:26 | Author: Dustin Murphy
  • AAA: 2018 summer driving season could be most expensive in years

AAA Michigan surveys daily fuel prices at 2,800 gas stations across the state. The Tampa-St. Petersburg-Clearwater area and the Orlando market had the least expensive gas in Florida with prices averaging $2.65 per gallon followed by the Melbourne-Titusville market where prices stood at $2.66 per gallon. At this time past year, Florida drivers were paying, on average, 35 cents less a gallon. The demand estimates from the past two weeks have been more in line with the usual spring driving season than the almost 9.9 million b/d estimate reported in the middle of April - a record-breaking figure that more closely resembles demand rates seen during the high-demand summer driving season.

Prices across the county varied, according to the website, with Pismo Beach reporting the highest gas prices at $4.15 a gallon at the Chevron station on Five Cities Drive and Shell station on Shell Beach Road on Monday.

In fact, customers are seeing the highest prices at the pump since 2014, at $2.81 a gallon on average nationwide.

As President Trump prepares to announce a decision regarding the Iran deal, the uncertainty is causing a rise in oil prices.


"If Iran's crude oil is sanctioned and it's impossible for Iran to ship crude oil, then gas prices could go up", says Gasbuddy.com spokesman Patrick DeHaan. Today's price is 14 cents higher than last year's highest price, which was $2.67 on September 8, 2017. "If they do take place, there is the possibility there will be a tightening of oil supply and that's going to cause gas prices to go up", he said.

Prices are set to keep rising through Memorial Day and stay stagnate for the rest of the summer. On June 1, retailers must make the switch to selling the summer-blend gasoline.

"Brent is trading (higher) with the USA pulling out of the Iranian deal".

On net, analysts figure the recent jump in oil prices are likely to be a wash for the USA economy, or modestly negative.

Recommended:



Popular

Cordray, DeWine projected to win OH gubernatorial primaries
Trump referred to as a "socialist", also won his party's nomination by a large margin , earning just over 62 percent of the vote. Trump's blue-collar appeal. "He will be a great Governor with a heavy focus on HealthCare and Jobs", the President tweeted .

France defender Laurent Koscielny out of World Cup
This game has no real importance to neither side but I am sure that both teams would want to end the season with a win. Get the latest World Cup news updates.

Robert Downey, Jr's third Sherlock Holmes movie set for Christmas Day, 2020
Downey stars as the iconic British detective in the film franchise, while Law plays his famous sidekick, Dr. Guy Ritchie directed the first two films - Sherlock Holmes and Sherlock Holmes : A Game of Shadows .

Sox Vs Yanks In London 2019
As part of the two-year deal another series will be played in London in 2020. Khan said: " London is the sporting capital of the world".

Liverpool reportedly agree deal with Lyon for Nabil Fekir
There's little doubt Fekir would be an exciting acquisition for the Anfield club and the Premier League as a whole. We hope to keep him and have him playing the Champions League with us next year".

Gaza blast kills six Hamas gunmen
He said the men had been close to the border fence, but that he was not sure if they actually crossed into Israel. The protests have seen thousands gather to demand access to their families' lost homes or lands, now in Israel.

Judges To See Plea On Rejected Chief Justice Impeachment Shift
This was the first time that an impeachment notice was filed against a sitting CJI. Naidu had said that the notice lacked merit.

Qantas pressured to adopt one-China policy over Taiwan
In a statement White House Press Secretary Sarah Sanders noted that President Trump "ran against political correctness in the United States".

Cristiano Ronaldo Champions League final concerns eased following Clasico injury
But with Barca remaining on track to go the entire LaLiga season unbeaten, Iniesta was happy to be able to go out on a high. His first shot was saved by Marc-Andre Ter Stegen, the second fired wide of the far post.

Molina has Surgery Following Foul Tip to the Groin
Cardinals left fielder Marcell Ozuna was more succinct. "That was a bad one", Matheny said, via ESPN . Molina immediately fell to the ground in pain and was replaced by Francisco Pena .