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Published: Tue, April 17, 2018
Medical | By Garry George

National average for gas hits 3-year high; SWFL lagging for now

National average for gas hits 3-year high; SWFL lagging for now

According to GasBuddy historical data, gasoline prices on April 16 in Las Vegas have ranged widely over the last five years: $2.66/g in 2017, $2.44/g in 2016, $2.77/g in 2015, $3.62/g in 2014 and $3.63/g in 2013.

As recently as April 9, GasBuddy senior petroleum analyst Patrick DeHaan said: "As markets have seen concern rise of a possible trade war between the US and China, oil prices have been hit hard, leading gas prices to dramatically slow their recent ascent". The OPEC and non-OPEC production cut agreement is eliminating the global oil supply glut that led to lower prices in recent years, AAA said.

"There is tremendous volatility in the oil and gasoline market", AAA spokeswoman Jeanette Casselano said.

The average gas price is now $3.11 per gallon. The situation in Syria escalated Friday night when the US, the United Kingdom and France launched missile attacks on Syrian facility used to produce chemical weapons. With Baker Hughes, Inc. reporting that the USA added seven oil rigs last week - bringing the total to 815.

Seasonal factors in the USA also are in play now, said Patrick DeHaan, head of petroleum analysis for GasBuddy.

DeHaan added that the usual annual peak for gas prices has been around mid-May, and that refinery maintenance and the annual switch to summer fuel blends has gone according to schedule, while inventory is rising, giving fewer reasons for prices to rise.

"Demand for gasoline this March was very strong, closer to the demand AAA typically sees during the summer", Michael Blasky, AAA Northern California, said earlier this month.

California's high fuel taxes and fees have likewise played a role.

Wisconsin- $2.58 per gallon, up 4.6 cents per gallon from last week's $2.53 per gallon.

Get ready to pay more to fill up your tank.

"The seasonal surge at gas pumps is in full motion, causing the most dreaded time of the year for fearful motorists, especially of what may still be coming", Patrick DeHaan, head of petroleum analysis for GasBuddy, said. However, we're likely in the closing innings of the seasonal rise.

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