Gasoline, Gas Station, Pump

Gasoline Prices Nearing Highest Level In Four Years

October 5, 2018
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Gas prices are getting higher.  And higher,  And higher.

In fact, gasoline prices across the COUNTRY, are nearing their highest levels in nearly four years, rising three cents to an average of $2.88 per gallon!

As if you didn't hate your commute enough already, now it's near the most expensive it's ever been!

Mark Jenkins, spokesman, AAA, The Auto Club Group, attributes the rise in prices to concerns about sanctions in Iran.  He said, "Concerns about how sanctions against Iranian crude will impact global oil supply began to weigh on the market last week.  Crude oil prices climbed and dragged gasoline prices higher as a result. T he $5 per barrel shift in crude can signal a 25 cent hike at the pump.  However, low seasonal gasoline demand and a cheaper-to-produce winter-blend gasoline may should offset some of that upward pressure."

Florida and Michigan have seen the biggest increase in gas prices, with a $.10 hike in each state, whereas Mississippi ($2.57), Alabama ($2.57), and South Carolina ($2.58) all have the cheapest.

Via CBS News