Commodities Corner: Gasoline prices ‘really starting to surge,’ could near $3 a gallon by spring: analyst [MarketWatch]
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Source: MarketWatch
Gasoline prices ‘really starting to surge,’ could near $3 a gallon by spring: analyst Retail U.S. gasoline prices are poised to climb for a sixth straight week, and could near $3 a gallon on average before they peak this spring, fuel-price tracker GasBuddy said on Monday. “Gas prices are really starting to surge across the country,” Patrick DeHaan, head of petroleum analysis at GasBuddy, told MarketWatch. “The national average is now up 30 [cents a gallon] from its 2019 low.” The average price for regular gas was $2.547 a gallon late Monday afternoon, up 4.8 cents from last week’s average of $2.499 and 21.1 cents higher than last month’s average of $2.336, according to GasBuddy . The lowest average so far this year was $2.241 on Jan. 7. Among the states that have seen the biggest climb from their year-to-date lows are Michigan, up 63 cents, Illinois, up 56 cents and Florida, up 54 cents a gallon. “The Great Lakes dominates the list because of the excess stockpiles of winter gasoline,”
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