Average retail gasoline prices in the Fort Wayne area have risen 17.7 cents per gallon in the last week, averaging $2.25 a gallon Sunday, GasBuddy.com said today.
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Including the change in gas prices in IL during the past week, prices Sunday were 80.6 cents per gallon lower than the same day one year ago and are 7.5 cents per gallon higher than a month ago.
However, those prices are still a bit lower than most places in the country.
Nationally, the average price of gasoline Sunday was $2.16, up four cents from a week earlier, while Georgia’s average price was $2.06, up from $2.02 the previous Sunday, AAA said. “The weekly average for oil rose about $4 which could translate to a 10 cent hike at the pump”.
Experts say prices will continue to go up throughout the week as the market adjusts to higher oil prices.
A large spike in gas prices is not expected in the near future, according to AAA.
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In Friday market trading, US crude rose 30 cents to $48.52 a barrel in NY. It’s possible the same thing could happen again. Finished gasoline inventories increased while blending components inventories decreased last week.
