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Trends: Gas Prices Rise to Highest Since 2015


GasBuddy has reported that the national average price of gasoline is now its priciest since July 2015, rising to $2.68 per gallon. 

“Many will be quick to ask why this trend is happening. Ultimately, OPEC bears much of the responsibility for cutting oil production in 2017, leaving U.S. oil inventories at far lower levels than a year ago. However, higher oil prices have also enticed U.S. producers to ramp up crude oil exports, effectively draining U.S. oil inventories at a higher pace than that oil is being replaced,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.

While motorists may feel powerless to stop the rising prices, the company stated, they don’t have to be resigned to paying what gas stations are asking. Some stations offer cash discounts, and some credit cards offer rebates.

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