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ME gas prices still on the rise

14 November 2017

Gas prices spiked by 18 cents in Southwest Florida early last week before finally plateauing over the weekend.

Local prices for a gallon of gas topped out at $2.89 a gallon Monday, almost a dime more than the state average of $2.80, according to GasBuddy's daily survey of 5,269 gas outlets in Pennsylvania. "Fortunately, oil prices let off the throttle last week, allowing gas prices to find what appears to be solid ground".

The state with the fifth cheapest gas prices at $2.31 a gallon is Arkansas, followed by Texas, at $2.31, Virginia, at $2.32, Tennessee, where a gallon will run an average of $2.34, Oklahoma at $2.35 and Missouri at $2.36. Gas prices were the same as last month's average and have increased by 41.7 cents from last year's average. And U.S. producers are pumping at a record rate, leading some experts to bet that the higher prices won't last long.

"However, motorists should expect gas prices to linger at their current levels this week", Jenkins said in a prepared statement.

"Gas prices typically rise like a rocket and fall like a feather", Jenkins said.

There may be some relief around the corner. The price of crude oil has come down recently as nine US rigs were added last week and domestic inventories went up. The country produces a significant amount of crude oil, and a leadership change could potentially affect the amount that it exports.

Fuel prices in the Las Vegas Valley rose for a second straight week, according to GasBuddy.

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Austin- $2.26/g, up 5.2 cents per gallon from last week's $2.21/g.

"Apparently, this year is playing a trick on motorists", said Patrick DeHaan, head of petroleum analysis for GasBuddy.

The lowest price in Miami-Dade was also $2.39 at two stations just off Interstate 95 in Miami - 7-Eleven on Northwest 79th Street and Exxon on Northwest 7th Avenue.

The rising price at the pump contradicts the usual trend of dropping gas prices during the fall season.

"Analysts warn that oil prices could be somewhat volatile this week, as the consolidation of power in Saudi Arabia leaves speculators questioning the impacts on global oil supply". The cost of a gallon of gas increased by nine cents in Gainesville and eight cents in Atlanta, AAA said.

After reaching more than $2.95 per gallon at the start of the month, prices have dropped to about $2.88 per gallon in Chicago.

"Thanksgiving is often a time when people want to be with family", he said.

ME gas prices still on the rise