Gas Prices Continue to Rise Featured font size +

Gas takes 7-cent weekly jump in metro Albany

Gas prices this summer are projected to average around $2.74 per gallon, according to the U.S. Energy Information Administration.

The fluctuation in prices and the long-term trends driving gas prices up have caused anxiety among motorists, however.

To check out the prices from 1,106 retailers across the Twin Cities check out GasBuddy's website.

It's still far from the highest gas price ever - $4.07 per gallon in July 2008.

According to AAA, gas prices have been going up daily since April 9. The national average of $2.81 is the highest since November 2014.

The state's price of gas is still six cents below the national average for regular unleaded, but 43 cents higher than the price at this time previous year, AAA said. AAA says that crude oil prices are at the highest level in more than three years and expected to climb higher.

You may have noticed the pump creeping back up in price. It's estimated USA oil supplies are down by almost 1.1 million barrels compared to previous year at this time.

Nariman Behravesh, chief economist at IHS Markit, said the average US household is projected to spend an extra $190 on fuel this year. Both factors are playing a role in the spike in oil prices. That's why the price at the pump has gone up noticeably in just the past week.

More news: Ronny Jackson not to return to job as Trump's personal doctor

Find the most up-to-date local gas prices with the AAA Fuel Finder by logging onto AAA.com and clicking on Gas Saving Tips & Tools.

Photo by Tim Barber /Times Free Press.

Road trips are still the most family vacation option for those staying stateside, despite higher gas prices, Spiegel said.

Gasoline demand sank to its lowest level in almost two months, declining 8 percent from the previous week, according to AAA.

Comparing pump prices to those this time a year ago, OH motorists are paying 47 cents more per gallon to fill up.

"People aren't likely to change their vacation or weekend plans because of an extra $5 cost of gas", said Dave Santucci, marketing vice president for the Chattanooga Area Convention and Visitors Bureau. "What's clear is that most states have recently raised gas taxes using the current environment of lower prices as cover", said Patrick DeHaan, head of petroleum analysis at GasBuddy.

McTeague said the record-breaking prices speak to the critical fuel shortage the Lower Mainland is experiencing.

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