Gas Prices Rise to Levels Not Seen In More Than 3 Years

Ken AshfordEconomy & Jobs & Deficit, Energy and ConservationLeave a Comment

Remember that $50 bucks or whatever you got in a huge tax refund? It’s gone. You’re going to spend three or four times that amount in increased gas prices, thanks to Trump:

You may have noticed, gas prices are on the rise and hitting levels not seen in more than three years. Gas prices nationwide are up a nickel in just the last week. That’s 20 cents in the last month, according to AAA.

Drivers fueling up in New Jersey are paying just under $3 for a gallon of regular unleaded.

“It was $54.16 for 18 gallons, and I just paid $40 for 13 gallons,”  Damian Woo told CBS News.

In California and Hawaii, gas prices are approaching $3.70 a gallon, nearly a dollar higher than the national average.

“There are 10 states that are at $3 a gallon or above,” AAA’s Robert Sinclair said

“We’re seeing extremely high demand for gasoline,” Sinclair said. “With the economy moving along as strongly as it is, there’s a lot more work, and with work, comes a lot more transportation.”

And what is the reason?

Geopolitical concerns were cited for driving crude values higher. The White House’s decision to end the 2015 U.S.-Iran nuclear deal could lead to diminishing supply from a key member of the Organization of the Petroleum Exporting Countries. A recent government report also showed the first decline in U.S. crude supplies in three weeks.