Published: Tue, January 30, 2018
Medicine | By Daryl Nelson

No relief from gas prices as crude oil market remains strong


Including the change in gas prices in Pennsylvania during the past week, prices Monday were 30.9 cents per gallon higher than the same day one year ago and are 14.1 cents per gallon higher than a month ago.

Oklahoma is among states seeing the largest jumps in gas prices this week, averaging $2.41 cents a gallon, 6 cents per gallon higher than last week. Heating oil rose 2 cents to $2.14 a gallon.

$2.08/g in 2017, $1.59/g in 2016, $1.84/g in 2015, $3.07/g in 2014 and $3.18/g in 2013.

The average price was $2.63 in Broward and Miami-Dade counties, three cents more than a week ago in Broward and two cents higher in Miami-Dade. That's about 32 cents higher than the same day past year.

"Without gas prices falling, the current price environment may be the floor for what could become a more expensive year than anticipated", DeHaan said. The Energy Information Administration reports an increase on the week in gasoline demand and a decrease in inventories.

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The reasons? The continuing rise in the price of oil as well as refinery maintenance season, during which refineries prepare to switch to a more-expensive-to-produce summer blend of gas. Oil prices have always played a significant role in what motorists pay at the pump. EIA's latest weekly report shows that US crude inventories reached their lowest level in almost three years at 411.6 million barrels. "It's unclear exactly how the market will absorb these shifting fundamentals, but motorists may want to be ready".

Bargain hunters in South Florida could still find a few stations selling below $2.50 a gallon, according to the gas comparison website GasBuddy.com.

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