If you’re filling up here in Maryland, the average price for regular is a few cents above the national average at $2.26.
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“Gasoline demand continues to break seasonal records as low prices motivate people to drive more”, said Mark Jenkins, spokesman, AAA – The Auto Club Group.
Still, gas is cheaper than it was a year ago.
Analysts say gas prices are rising due to higher oil prices and strong demand for gas. On Friday in the Triad, the average price was 24 cents less than a year ago when drivers were paying an average price of $2.49 a gallon.
Gas prices continued their spring climb this week, with a 7-cent weekly increase at the local pump, a survey by GasBuddy.com shows.
Global oil prices spent much of the week responding to factors capable of influencing supply. At $2.957 on May 6, the market average is up a tenth of a cent compared to last week and is three-tenths of a cent under the average in San Francisco, the AAA says.
“This figure has dropped significantly in relationship to the price of gas”, AAA said.
Separately, the Federal Reserve Bank of NY this week noted that as oil demand expectations continued to improve and supply conditions tightened further, oil prices returned to levels seen at the start of October previous year.
More than 35 percent of Americans think gas is too expensive based on today’s average prices, though they are at the lowest levels since 2009.
Though gas is still 40 cents below what it cost a year ago, AAA Texas said the lingering low prices have changed consumer attitudes about what they should shell out for gasoline. Regular averaged less than $2 in only three states, according to AAA: Kansas, $1.99; Oklahoma, $1.98; and Missouri, $1.97.
OPEC production was up for the month of April, AAA said, and USA output likely will increase as oil prices increase.
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Of course, it is still possible to find gas below $2 a gallon.
