US – Gas prices have been up since the beginning of 2021, to a astounding .46 cents since Jan 1. Now average prices are above what they were averagely in 2020.
This week according to Gasbuddy.com gasoline prices rose to 2.71 per gallon nationally, Ohio’s average is just about a cent lower at 2.707, but West coast averages are hitting 14-month highs of over three dollars a gallon. California hit an average of 3.72 this week, with Washington coming in second at 3.11.
Last year’s highest average was in January of 2.62 cents a gallon just before the pandemic stay-at-home orders hit.
Most of this increase comes from oil barrel prices and with the pandemic coming to a possible end oil and gasoline demand is starting to increase causing prices to increase. On the first trading day of January 2021 barrel prices closed at close to 47.47 per barrel, two months later those same barrels are trading at closer to 60.
Other factors are when crude oil cannot be refined, like when its hurricane season in the gulf of Mexico and off rig oil refineries cannot operator, or when like last month when winter storms swept through Texas shutting down most of the state.
President Biden’s shut down of the Keystone Pipeline could eventually cause a uptick in prices also, but most of these prices are from Oil Barrel sales and shutdowns in Texas.
Sadly with more demand coming with the transition of summer gasoline, and the possibility of less pandemic restrictions price of gas will undoubtedly go up more. To date the highest gas price average ever was in 2008 when national gas prices hit 4.10 per gallon.
Average price of gas around Pickaway county is 2.69.