/Gas prices on the rise again
Gas prices on the rise again

Gas prices on the rise again


Gas prices on the rise again

FOXBusiness

Gas prices are on the rise again after a “short-lived” decline, according to an industry expert.
The nation’s average gas price rose 1.7 cents per gallon over the past week, notching $3.16 per gallon, according to GasBuddy, which compiles data from more than 150,000 gas stations across the country.
The national average is now 3.8 cents higher than it was a month ago and nearly 92 cents higher than a year ago.
“Last week’s decline of the national average price of gasoline was short-lived,” Gasbuddy head petroleum analyst Patrick De Haan said. “Prices have now rebounded on continued strong gasoline demand in the U.S., which has pushed oil prices back up after a brief lull.”
Last week, gasoline demand rose to its highest level of 2021, marking the second straight record-setting week as we head into prime summer driving season, according to de Haan.
De Haan cautioned that drivers may see prices continue to rise for “the next week or two.”
Some states, such as Michigan and Ohio, should even expect a hike “as soon as today” after falling for nearly three weeks, de Haan tweeted.
However, de Haan noted that consumers may see some relief as vacation season ends and schools reopen for the fall.
“We’ll likely see demand trail off, allowing for gas prices to decline gently heading into Labor Day,” he said.
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