GasBuddy: CT gas prices rose 3.5 center per gallon last week

Prices at the pump in the state of Georgia sit at around $2.36 a gallon, more than 10 cents higher than this time previous year.

The range in prices in the latest AAA survey for unleaded regular is 48 cents, from a low of $2.31 to a high of $2.79. Direct moves by governments to increase fuel taxes, as seen in California in November or carbon taxes introduced in Alberta and Ontario in 2017, also add to the prospect of higher prices for fuel in the year ahead.

Midland Odessa- $2.45/g, down 1.4 cents per gallon from last week's $2.47/g. Since last autumn's maintenance season was interrupted by hurricanes, this spring is likely to be more active than usual for refineries, putting the price-hike on the higher end of that 30-75 cent scale.

Hartford- $2.61/g, up 1.8 cents per gallon from last week's $2.59/g. "Prices at the pump are higher than they were almost all of last summer, mainly because oil prices remain high and due to the extreme cold weather that caused some snafus at refiners". Falling demand tends to lead to a buildup in inventory and, thus, to lower prices during the period. Ultimately, OPEC bears much of the responsibility for cutting oil production, leading oil inventories to begin 2018 almost 50 million barrels lower than a year ago.


In GasBuddy's 2018 Fuel Price Outlook, September is predicted to be the most expensive month at $1.24 while January should be easiest on the wallet at an average of $1.13.

The Detroit-area's average decreased about 3 cents to $2.64 per gallon. Moving into 2018, prices are expected to continue rising as OPEC's production reduction agreement will remain in place for the entirety of 2018.

GasBuddy is projecting the national average gas price this Christmas to be $2.39 per gallon, a 12-cent drop since Thanksgiving, but the priciest Christmas in four years.

"I would be shocked if we saw greatly increased prices in gasoline in 2018", said Skylar McKinley, spokesman for AAA Colorado in Denver.


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