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Why do gas prices rise? In general, gas prices rise when oil supply decreases, according to EIA. Any disruptions to crude oil supplies, refinery operations, or gas pipeline deliveries can result in fluctuating fuel costs. Other factors that contribute to rising gas prices include:
Why are gas prices rising? Underlying the higher costs of gas are routine factors including refinery maintenance, the switch to summer gasoline and rising demand. Domestic...
NEW YORK (AP) — Drivers are in for another headache at the pump as U.S. gas prices continue to rise. The national average for gas prices stood at about $3.78 a gallon on Tuesday — about 25 cents higher than that seen one month ago, according to motor club AAA.
Gas prices have surged higher at the outset of 2024, stressing household budgets and complicating efforts to cool inflation. 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 shared with ABC News.
Prices hit an all-time high in June 2022, surpassing the dreaded $5 milestone, a major hike made worse by high demand, historically low gas inventories and uncertainty in the international...
Numerous factors are pushing prices up, with regular gasoline hitting a record $4.67 a gallon Wednesday according to AAA’s survey. Gas prices were already expected to breach the $4 a gallon mark...
When fuel prices go up, consumers are hurt directly at the pump, but also indirectly when higher transportation costs raise prices on everything from food to diapers to construction materials. The...
“Dry natural gas production decreased by 1.3 percent (1.4 Bcfpd) to average 101.8 Bcfpd, and average net imports from Canada increased by 2.2 percent (0.1 Bcfpd) from last week,” he highlighted.
How did gas prices get so high? Two main factors are driving the surge in gas prices: the recovery from the pandemic and Russia's invasion of Ukraine. Crude prices tumbled...
Gas prices are at a 10-month high, potentially throwing a wrench into Labor Day travel plans and inflation. Why are they rising and is relief coming?