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Gasoline prices will go up again and won’t get better any time soon


Image for article titled Gasoline Price Will Go Up Again, And It Will Be Better Anytime Soon

Illustration: Angelica Alzona (Shutterstock)

Good Morning and Happy Tuesday! How’s everyone? I have been going out and traveling for the past week. It was pretty sweet, but I’m back now. So you have to deal with that.

Anyway, the price of gas. Well, for the first time in a long time, I wish I had better news. Looks like things are on track again. Based on AAA’s tracking gas prices, the average price of a gallon of gas currently stands at $4.10. That’s up a cent from yesterday’s average. However, it’s still better than where we were. We are now down about 23 cents from just a month ago.

However, you shouldn’t expect this sale to last forever. Fox News reports that we are about to have a storm and that prices could be right back to where they were at the height of these rallies.

After a slight decline, gas prices are predicted to rise again, with the national average likely hitting $4.20 per gallon, according to an industry expert.

Over the past week, gasoline futures have risen 30 cents, “this is just bad news for consumers,” said Andy Lipow, president of Lipow Oil Associates.

Lipow predicts the national average will rebound from $4.15 to $4.20 per gallon even as some states suspend gas taxes.

Georgia, Maryland and Connecticut have suspended state excise taxes on gasoline, which could lower the national average, however, Lipow told FOX Business that “last week’s news stories caused a substantial price hike that offset some of the tax savings.”

Georgia, Maryland and Connecticut have suspended state excise taxes on gasoline, which could lower the national average, however, Lipow told FOX Business that “last week’s news stories caused a substantial price hike that offset some of the tax savings.”

“How will the world have an alternative supply of nearly 5 million barrels per day if the European Union bans all Russian oil imports? Lipow said. “It’s simply not possible to do it today.”

So, uh, I guess let’s enjoy this relative vacation we’re having right now. This can be good if it lasts for a while.

Image for article titled Gasoline Price Will Go Up Again, And It Will Be Better Anytime Soon

Photo: AAA

With that, let’s check out today’s gas price winners and losers.

Here are the highest average gas prices in the country in order of highest prices for a typical gallon:

  • California – $5.70 Regular | $5.91 Average | $6.05 Premium | $6.34 diesel
  • Hawaii – $5.24 Regular | $5.44 Average | $5.69 (good) Premium | $5.69 (good) Diesel
  • Nevada – $5.08 Regular | $5.31 Average | $5.49 Premium | $5.29 diesel
  • Washington – $4.68 Regular | $4.89 Middle | $5.07 Premium | $5.50 diesel
  • Oregon – $4.66 Regular | $4.85 Average | $5.06 Premium | $5.38 diesel

Below are the lowest average gas prices in the country in order of lowest price per gallon of regular gas:

  • Georgia – $3.71 Regular | $4.10 Middle | $4.45 Premium | $4.76 diesel
  • Arkansas – $3.72 Regular | $4.03 Average | $4.32 Premium | $4.76 diesel
  • Kansas – $3.72 Regular | $3.96 Average | $4.25 Premium | $4.74 diesel
  • Missouri – $3.72 Regular | $3.99 Average | $4.28 Premium | $4.70 Diesel
  • Texas – $3.73 Regular | $4.07 Average | $4.37 Premium | $4.76 diesel

My guess is to enjoy these prices while they last. See you all tomorrow.



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