Home News Prepare for 3 Dollars a Gallon at Pump During Prime Travel Season

Prepare for 3 Dollars a Gallon at Pump During Prime Travel Season

0
SHARE

US – When the pandemic hit last March gas dropped to under 2.00 a gallon the lowest in years, in March 2021 a year later gas is at 2.86 per gallon average across the US, the highest peak summer prices of 2019.

What does that mean? The average price of a gallon of gas will go up throughout the summer due to usage. Some of that is simple supply and demand.

The price of oil by the barrel that drives gasoline prices is at 60 dollars a barrel. The national average price of gasoline has climbed 47 straight days to nearly $2.89 per gallon, according to¬†AAA. U.S. drivers haven’t experienced a $3 average price per gallon since 2014, though it came close in 2018 and 2019.

“$3 gas will be the norm by Memorial Day,” said Robert Yawger, director of energy futures at Mizuho Securities. “We’ve been trapped inside for a year. People want to get out of the house.”

Some places are already seeing 3 dollars a gallon like California, Pennsylvania, Illinois, Arizona, Utah, and Nevada.

Some people would blame President Biden and his green stance on oil, but this spike is more about economic recovery, not the shut down of the oil pipeline. Biden’s policies could eventually effect prices but not this soon.

Ohio is in a gas bubble right now enjoying 2.60 a gallon average but along with some of the midwest, but higher gas prices are heading this way.

Sunoco in Leistville is the lowest cost per gallon of gas at 2.49 per gallon, followed by BP on US highway 22 at 2.59, and Marathon on US23.