Published: Tue, May 15, 2018
Business | By Kate Woods

Gas prices on the rise

Gas prices on the rise

Gas prices have gone up 53.5 cents since a year ago and is up 16.2 cents since last month.

W.D. Williams with AAA Auto Club says there are several reasons for the increase of gas prices.

North Carolina is now below that average - at $2.72. To save money, check out Roseville's lowest prices leaderboard for gasoline.

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Gas prices right now are 53 cents higher than they were the same time a year ago.

AAA reports the national average price of regular gasoline is around $2.88 a gallon, up seven cents in the last seven days and 17 cents higher than a month ago. Woodward now averages about $2.60 per gallon.

Within the past few weeks, gas prices have been increasingly high due to President Trump's decision to withdraw the United States from the nuclear deal with Iran and oil supplies that have continually dropped as USA exports rise past Venezuela, a country that has the largest amount of oil reserves in the world, according to Patrick DeHaan, head of petroleum analysis for GasBuddy. Oakland- $3.69/g, up 4.7 cents per gallon from last week's $3.65/g.

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Analysts say the gas prices nationwide are close to hitting $3 per gallon for the first time since 2014, when it averaged $3.62.

Analyst Patrick DeHaan of www.gasbuddy.com says some of the factors in the rising prices included President Trump's decision to withdraw the USA from the Iran nuclear deal and dropping oil supplies as US exports have surpassed Venezuela.

Consumers with long memories may not think gasoline is that expensive. Drivers in Missouri are paying 12 cents a gallon more, and the average gallon of gas rose by 11 cents a gallon in the last week in Kentucky and Minnesota.

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