Published: Tue, April 17, 2018
Medical | By Marta Holmes

State gas prices rising slower than national average

State gas prices rising slower than national average

Despite the increase, SC still ranks among the least expensive states for gas prices in the country. The EIA's weekly retail report for Chicago shows "regular" prices sitting at $2.807. All regions saw gasoline inventories decline, however, with the exception of the East Coast, which saw a large 3 million barrel rise. The possibility of US sanctions against Iran and another sponsor of the Syrian government, Russia, is driving up the price of crude oil, which increased by more than $5 last week. A year ago, the average price for the second week of April was $2.33.

States with the lowest average gasoline prices: Missouri ($2.42), Oklahoma ($2.43), Arkansas ($2.43), MS ($2.45), SC ($2.46), Louisiana ($2.47), Kansas ($2.48), Texas ($2.48), Alabama ($2.49) and Wyoming ($2.50). The average gasoline price in Portsmouth was $2.672, according to AAA. In San Francisco, gas was going for an average of $3.65. On the week, the national average increased a nickel.

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Four-dollars-a-gallon gasoline, not seen in the Golden State since midsummer 2014, is starting to look likely due to developments that pushed at-the-pump prices into overdrive last week. Across the country, only 27 percent of gas stations are selling gas for $2.50 or less. The national average has increased 17.7 cents per gallon during the last month and stands 30.1 cents per gallon higher than this day one year ago.

"Expensive crude oil prices, unrest in the Middle East, strong domestic demand, record production rates and global oil supply surplus have created the flawless storm to drive spring gas prices toward new heights", said Jeanette Casselano, AAA spokesperson.

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Twin Cities- $2.50 per gallon, up 1.2 cents per gallon from last week's $2.48 per gallon.

The increased output led crude storage levels to grow by 3.3 million bbl to 428.6 million bbl.

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"Ultimately, (the Organization of the Petroleum Exporting Countries) bears much of the responsibility for cutting oil production in 2017, leaving USA oil inventories at far lower levels than a year ago".

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