Petroleum analysts are watching international prices closely after last week’s terrorist attacks in Paris, and the country’s subsequent military attacks in the Middle East to determine what affect the turmoil will have on global oil and gas prices, according to gasbuddy.com.
The website, which tracks U.S. gasoline prices and provides analysis of global and domestic crude oil prices, reports that, despite the uncertainty, financial and petroleum markets have shown increasing resilience in recent years.
“World leaders are gathering this week to learn the answer to that question. But at this point in time, many reporters are also watching closely to see whether the attacks in France will adversely impact financial markets, and of course, crude oil prices,” said Gregg Laskoski, senior petroleum analyst for GasBuddy.
“While some may expect price hikes, the broader view seems to hold that despite the horrific attacks and the outrage felt globally, the financial markets have shown increasing resilience in recent years and are rarely spooked when fundamentals and infrastructure are uncompromised,” Laskoski added.
The current trend in U.S. gasoline prices shows the national average price at $2.15, 73 cents lower than last year, and that average is down by 6 cents per gallon from a week ago.
Starting this week Chicago wholesale gasoline prices are the lowest in the nation and concurrently, Ohio, Indiana and Illinois are posting the steepest declines nationwide from month-ago prices, down 40, 39 and 37 cents respectively.
South Carolina currently has the lowest average nationwide ($1.89) and there are currently 12 states averaging below $2/gal: South Carolina, Alabama, Oklahoma, Texas, Missouri, Mississippi, Louisiana, Tennessee, Virginia, Arkansas, New Jersey and Colorado.
Kansas, Ohio and Indiana are all on the verge of joining that group within the next day or two.
For a complete listing of current averages and other fuel price data, visit http://media.gasbuddy.com.