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Gas Prices Could Jump 30 Cents a Gallon by July Fourth, Analysts Say
- Gas prices in the Gary metro area, part of Northwest Indiana, rose 3.5 cents last week to an average of $3.30 a gallon amid Middle East tensions.
- The rise comes after U.S. oil stockpiles dropped sharply by 10 million barrels, combined with the ongoing tensions between Israel and Iran, which analysts warn could lead to increased price fluctuations.
- Experts note that geopolitical events, refinery issues near Chicago, and summer travel demand contribute to rising prices in states like Wisconsin, Michigan, and Indiana.
- Patrick De Haan noted that ongoing conflicts in the Middle East could keep oil prices volatile, increasing the likelihood of further price changes, while GasBuddy forecasts that gas prices will rise by the end of the week.
- These factors suggest consumers should expect continued price increases soon, with potential rises up to 25 cents per gallon in some areas if the situation escalates further.
32 Articles
32 Articles
Cheapest premium gas in cities across Kossuth County in week ending June 14
There was a single gas station in cities across Kossuth County selling premium gas at the lowest price of $2.89 per gallon in the week ending June 14, according to customer reports submitted to GasBuddy.com.The average reported cost of premium gas in cities within Kossuth County was $3.09 per gallon.Of the 16 reported gas stations in cities within Kossuth County, two offer premium gas.The average reported price of premium gas in Iowa was $3.68, …
thepress.net
'Not looking terrific for summer': High gas prices in WA could get worse
(The Center Square) – Washington state motorists could feel more pain at the pump than usual this summer as a combination of supply issues, global tensions and state polices drive up fuel costs.
Will gas prices continue to rise? Alabama economist says Israel-Iran conflict has ‘rattled markets’
If you’re making plans for the holidays this summer, it might be cheaper to stay close to home, as experts predict a continuous rise in fuel prices in response to the ongoing Israel-Iran conflict.“Gas prices are typically elevated in the summer anyways due to demand, but current volatility from major crude hubs has rattled markets, thus the upward pressure on prices,” said UAB economist Ben Meadows.
Little Change to LA, OC Gas Prices
The average price of a gallon of self-serve regular gasoline in Los Angeles County increased four-tenths of a cent Wednesday to $4.65. The average price is 2.1 cents less than one week ago, 17.5 cents less than one month ago and 15.5 cents less than one year ago, according to figures from AAA and the Oil Price Information Service. It has dropped $1.843 since rising to a record $6.493 on Oct. 5, 2022. The Orange County average price declined thre…
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