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Average US price of gas jumps 8 cents per gallon to $3.10

Camarillo, CA-The average US price of regular-grade gasoline has risen eight cents over the past two weeks to $ 3.10 per gallon.

Trilby Lundberg, an industry analyst at Lundberg Survey, said on Sunday that it was due to supply disruptions due to the 10-day closure of the Colonial Pipeline after a cyberattack and rising prices for corn, the main component of corn-based ethanol. Blended with gasoline by a refiner.

The price of the pump is $ 1.05 higher than it was a year ago.

“Oil producers have shrunk sharply due to a sharp drop in oil demand last year and a sharp drop in prices, but supply did not match the rise in demand as we did not plan to recover demand this year. Prices could be higher this summer than in recent years until oil producers begin to recover. ” Gas Buddy said Patrick de Khan, Head of Petroleum Analysis.

When the national average reached $ 3 per gallon on May 12, it was Hit for the first time That mark since 2014.

Currently, the highest average price nationwide is $ 4.23 a gallon in the San Francisco Bay Area.

Houston’s lowest average metropolitan area is $ 2.53.



Average US price of gas jumps 8 cents per gallon to $3.10 Source link Average US price of gas jumps 8 cents per gallon to $3.10

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