Gas prices have increased 40 percent since the start of this year, and drivers are expected to feel more frustration through August, according to the American Automobile Association (AAA). The national gas price average has increased from $2.25 on Jan. 1 to $3.13 on Tuesday. Another 10–20 cents rise is expected through the end of August, which will bring the national average over $3.25. Last week, gas prices already hit a seven-year high at $3.09 before the Independence Day weekend. “Robust gasoline demand and more expensive crude oil prices are pushing gas prices higher,” Jeanette McGee, a AAA spokesperson, said in a statement. “We had hoped that global crude production increases would bring some relief at the pump this month, but weekend OPEC negotiations fell through with no agreement reached. As a result, crude prices are set to surge to a seven-year high,” McGee added. Talks among members of OPEC …
Gas Prices Rose 40 Percent This Year, More Increases Expected Throughout Summer
July 7, 2021
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