Gas prices steady, poised for seasonal decline

09 January, 2018, 01:01 | Author: Cassandra Gardner
  • Gas prices likely to rise in 2018

The average retail prices of gasoline in the area last week remained the same as the week before at $2.41 a gallon, according GasBuddy's daily survey of 308 gas outlets in Sarasota.

It's also 7 percent higher than at this time previous year, when prices were averaging $2.35 per gallon, a difference of 18 cents.

AAA Michigan says gas prices statewide have declined by about 6 cents per gallon in the past week. In Massachusetts, it's still 19 cents higher than at this time previous year, when prices were averaging $2.29.

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Oil has surpassed $62 a barrel for the first time since December 2013 due to oil supply tightening up.

The first week of the new year is historically strong for oil prices, AAA said.

" Springtime is as a springboard for prices at the pump, and we may see a 40-50 cent jump by the summer", said Jenkins. Spring is one of two times a year refineries go offline to conduct maintenance on their equipment, and switch from winter to the more expensive-to-produce summer blend gasoline.

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After getting hit with higher prices associated with severe hurricanes, MA drivers are not getting the benefit of the usual January dip in gas prices, AAA Northeast said Monday.

New Orleans- $2.19/g, up 1.4 cents per gallon from last week's $2.18/g.

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