Gasoline prices move up in the new year

Consumers should expect about a fiev cents per litre increase in gas prices in 2018 according to one petroleum analyst
Consumers should expect about a fiev cents per litre increase in gas prices in 2018 according to one petroleum analyst
Author

13 January, 2018

AAA's Lloyd Albert says that crude oil has been more expensive this year, and also in high demand. A year ago at this time, the average price in MA was 19 cents lower at $2.29. California drivers paid $2.55 for regular unleaded gas to begin 2015, but by May were paying above $3.70 per gallon. In 2017, the forecast called for a yearly national average of $2.49 and the actual was $2.39.

Oil prices crashed to below $30 a barrel in February 2016 but have slowly increased since then, and Patrick DeHaan, head of petroleum analysis at GasBuddy, points to the Organization of the Petroleum Exporting Countries as the big reason why. That's when gas stations drop prices to gain business, but as retail prices approach wholesale prices, stations need to push the price back up to make money.

Oil has surpassed $62 a barrel for the first time since December 2013 due to oil supply tightening up. In the Wenatchee area, gas prices were relatively steady, holding on at $2.82 per gallon. "But prices historically will drop after the ball drops on New Year's Eve".

"When we take a closer look, we see that volatility is built into the price we pay at the pump because many components, both globally and locally, have a hand in simultaneously pressing those prices higher and/or lower", Teague says in his report.

"The two provinces that have the cheapest fuel prices also happen to have the lowest tax jurisdictions of all the Canadian provinces and do not have carbon taxes attached to them", McTeague pointed out.

Prince Harry, Meghan Markle bundled up for visit to a radio station
They also met with people who explained Reprezent's employment and skills development programs for youth. Station founder Shane Carey said news of their visit had caused "massive excitement" in the area.


Franken Officially Resigns from Senate
Al Franken resigned his position as of noon Tuesday, Jan. 2, leaving fellow Democrat Amy Klobuchar as the state's lone senator. Should it be now? "And the price is bigger than ever because the swamp is so toxic".


Trump accuses Justice Department of being part of the 'deep state'
Navy Sailor imprisoned for a year after taking photographs while on board a submarine as justification for his imprisonment call. The president referenced the case of a former U.S.


The nor'easter dumping snow across the U.S. East Coast this week may trigger a short-lived dip in gasoline demand as commuters stay home. "That's when refinery maintenance work with the summer gasoline all happens at once".

In California, prices at the pump went up 12 cents per gallon in November as a result of the 10-year, $52 billion transportation package approved by the Legislature.

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