Gas prices are rising

Daniel Fowler
May 15, 2018

He also believes that there is a high possibility that crude oil prices will continue to rise and gas prices may reach as high as $3. This compares with the national average that has increased 5.7 cents per gallon in the last week to $2.86/g, according to gasoline price website GasBuddy.com.

As the mercury continues to rise nationwide, so does the price of gas here in Eastern North Carolina.

Hampton Roads' gas prices are 8 cents more than last week, 18 cents more than last month and 59 cents higher than previous year. According to GasBuddy historical data, gasoline prices on May 14 in Sacramento have ranged widely over the last five years: $2.84/g in 2017, $2.68/g in 2016, $3.54/g in 2015, $4.08/g in 2014 and $3.99/g in 2013.

The price of premium gas, required for most high-performance cars, is already well past $3 a gallon - which is significantly more expensive than diesel fuel.

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The AAA analysis shows motorists in 19 states are now paying above the national average for fuel, with nine states seeing average gas prices above the $3 a gallon mark. About GasBuddy GasBuddy is the technology company changing the way more than 75 million consumers find, purchase, and save money on gasoline.

"Well, I would say ten cents a gallon wouldn't be unreasonable to expect", he said, "but I don't know that anybody's got a good handle on what's going on".

They point out that US oil production capacity is much larger now than a decade ago. The typical family will spend about $200 more this summer driving season, according to the Oil Price Information Service.

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