The average price of gas in the US has reached a 5-month high, surpassing levels from a year ago, signaling an end to the base effect, according to Bloomberg. Experts predict that gas prices could climb to $4 a gallon for the first time in two years. Several factors contribute to the sharp increase in gas prices this year, including some refining capacity being offline for repairs and the seasonal transition from winter to summer fuel blends, as reported by The Wall Street Journal. In Utah, the average gas price has surged from $3.13 to $3.77 within a month. Nationally, the price for a gallon of unleaded regular gas has seen a nearly 14% increase since the beginning of the year, translating to more than a 40-cent hike per gallon, based on AAA data. Despite the usual rise in gas prices in the first half of the year, 2024 is witnessing a more significant increase, with analysts suggesting that prices are likely to continue rising, though perhaps not for long, according to NeilRetail. However, MarketWatch notes that predicting the national average price to climb to $4 a gallon may be a stretch.
Will Gas Prices Keep Rising? Analysts Say It’s Likely—But Perhaps Not For Long https://t.co/cD05Y0t7o9 https://t.co/20kHJSYLU1
Since the beginning of the year, the average national gas price has jumped nearly 14%. Warm weather travelers are driving up demand for gas, combining with refineries switching to a blend of more expensive summer fuel, experts said. https://t.co/RD3xIFMDqZ https://t.co/LHP6P9W21L
⛽ Gasoline prices at the pump are set to rise — as they usually do just as the U.S. summer driving season gets underway. But to say the average national price will climb to $4 a gallon is a bit of a stretch. https://t.co/Cs0VHpD0jJ https://t.co/ybMkaDD5FO
While gas prices typically rise in the first half of the year, they are rising more in 2024 — and drivers are about to feel the pinch. MORE: https://t.co/nWInfz4hu4 https://t.co/ntyVvDKdoW
GAS PRICES CONTINUE TO RISE ⛽💸 Gas prices in Utah have surged from $3.16 per gallon to $3.77 per gallon in just the span of March. @emmarileytv https://t.co/DcEI7O9Za5
WARNING: You will likely pay more for gas this spring, experts say. https://t.co/qZO9nofNjb
🇺🇸 Gas prices topping $4 a gallon this summer is possible — but not expected https://t.co/QrtsOgLeDy
While gas prices typically rise in the first half of the year, they are rising more in 2024 — and drivers are about to feel the pinch. More: https://t.co/nWInfz4hu4 https://t.co/VymdDkUhfa
Since the beginning of the year, the average national price for a gallon of unleaded regular gas has jumped nearly 14%, amounting to an increase of more than 40 cents per gallon, according to AAA data. https://t.co/28UO0QD4Xh
While gas prices typically rise in the first half of the year, they are rising more in 2024 — and drivers are about to feel the pinch, The Wall Street Journal reports. https://t.co/nWInfz4hu4
The average price for gas throughout Utah was $3.77 early Thursday morning. Last month it was $3.13. Learn more about the uptick in gas prices and why it's happening by clicking the link below👇 https://t.co/FyzVUWYMQg 📷Kristin Murphy/Deseret News https://t.co/lUdWZ5eEoy
Why Gasoline Prices Are Rising Faster Than Usual This Year https://t.co/tvqGPs30IT Some refining capacity is offline for repairs, while the transition from winter to summer fuel is happening.
Gas prices are likely to climb to $4 a gallon for the first time in two years, according to Bloomberg. https://t.co/mOqRk7eyKX
US average gas price hits 5 month high, and is now higher than a year ago (goodbye base effect)