Published: Sun, December 25, 2016
Economy | By Melissa Porter

Our gas prices spike ahead of holiday travel

Our gas prices spike ahead of holiday travel

Many people will be hitting the road for the holidays and the experts at GasBuddy say it's possible that prices will go up yet again.

Barring any Christmas Eve price hikes by Janesville retailers, retail gas prices here are just below the $2.25-per-gallon national average for this week, and they're well below prices in some spots throughout the Midwest, according to a fuel price map.

From Nov. 24-28, which included the holiday, motorists in Metro Orlando were paying an average of $1.99 according to AAA.

The United States has been on a years-long run of unparalleled, self-sustaining production, so much so that we've been exporting to other oil-producing nations, such as Mexico. The total production cut from the two agreements, if they hold, would be 1.8 million barrels a day, AAA said.

When it comes to prices in Kentucky, the average stands at $2.23 per gallon, which is three cents higher than last week, eighteen cents higher than last month and 38 cents higher than this same time past year. That's the price of a holiday stocking stuffer.

You probably know what that means for Florida overall. Last month, in 39 cities across the country, prices were up 23 cents. Nationally, the average of $2.25 is 11 cents higher than a month ago and 25 cents higher than a year ago. But the healthy domestic supply isn't enough to head off higher prices as a result of OPEC's move.

M - Even as gas prices continue to rise, the AAA travel-services organization predicts that a record number of Americans will travel this holiday season.

Plus, wholesale distributors, perhaps anticipating increased demand, raised prices 6 cents a gallon in the state last week, Jenkins said.

Following Oklahoma and Arkansas prices, SC and MS came third at $2.03 each, Missouri at $2.04, Texas, Alabama, Tennessee and Kansas all at $2.05 and Louisiana at $2.07 to round out the top ten least expensive averages in the nation.

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