Thursday, 17 October, 2019

Gas Prices in Lincoln are Down

Gas Prices in Lincoln are Down Gas Prices in Lincoln are Down
Russell Knight | 23 April, 2018, 20:00

Industry analyst Trilby Lundberg said the jump was driven primarily by rising crude oil costs.

Greater Cincinnati drivers are paying more to fill up their gas tanks.

Average retail gasoline prices in Chattanooga rose another 0.9 cents per gallon in the past week, averaging $2.46 per gallon on Sunday, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga.

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It's not just the tri-state dealing with higher prices at the pump. "Crude oil costs about 25 percent more than a year ago, as what used to be a global glut of oil is now tightening". The current gas price is 37 cents higher than it was a year ago, but this current spike could soon end. "So there are now a number of factors keeping upward pressure on gas prices", he said. The most expensive gas prices in Florida are in West Palm Beach, Fort Walton Beach and Fort Lauderdale areas. Georgia gas prices set a new 2018 high last week, with Saturday's state average of $2.66 being the highest since September, when prices were recovering from hurricanes Harvey and Irma.

Prices are about 34 cents more than at the same point a year ago and AAA says they're at the highest point since 2015. On the gasoline side, demand is strong and inventories are down as refineries wrap up their maintenance season and begin pushing out summer-blend fuel, which is more expensive to produce. "All signs point to some additional upward movement before prices peak and perhaps drop slightly around Memorial Day into the month of June - all certainly very contingent and subject to any changes from OPEC".

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