04-17-2015, 10:00 AM
High Gas prices are back
Did anyone actually believe they would stay around $2?
Gas Moves Back Toward $3
Gasoline prices, based on the average for a gallon of regular, were $3.67 nationwide a year ago. In some parts of the country, including California, the price was closer to $4. Gas prices have started to march back to $3, after breaking the $2 barrier on the way down just weeks ago.
Since gas prices are primarily affected by oil prices, the reason for the rise is simple. The price per barrel was about $45 in mid-March. Now it is back to $56, up 25%, and rising.
Did anyone actually believe they would stay around $2?
Gas Moves Back Toward $3
Gasoline prices, based on the average for a gallon of regular, were $3.67 nationwide a year ago. In some parts of the country, including California, the price was closer to $4. Gas prices have started to march back to $3, after breaking the $2 barrier on the way down just weeks ago.
Since gas prices are primarily affected by oil prices, the reason for the rise is simple. The price per barrel was about $45 in mid-March. Now it is back to $56, up 25%, and rising.