Skip to main content

Gas price fluctuation surges as some states see increase, others continue falling - CBS 46 News

(Gray News) – One of the longest gas price declines on record has come to an end after 14 consecutive weeks.

GasBuddy reports the nation’s average gas price is now $3.67, which is 3.2 cents higher than a week ago.

The top 10% of stations in the country average $5.45 per gallon, while the bottom 10% average $2.93 per gallon, according to GasBuddy.

Some parts of the country are seeing significant price spikes due to refinery issues, while other regions are seeing normal activity at refineries and prices there have dropped.

“I don’t know that I’ve ever seen a wider gamut of price behaviors coast to coast in my career,” GasBuddy Petroleum Analyst Patrick De Haan explained.

GasBuddy says the disconnect will continue to grow larger and will likely remain inconsistent for the next few weeks.

“A slew of unexpected refinery disruptions, including fires and routine maintenance, have seemingly all happened in a short span of time, causing wholesale gas prices to spike in areas of the West Coast, Great Lakes and Plains states – and some of those areas could see prices spike another 25-75 cents per gallon or more until issues are worked out,” De Haan said.

Hurricane Ian could also cause problems – depending on the storm’s track – as it approaches the United States.

“Hopefully, disruptions will be very limited due to Ian, but there remain many factors driving prices both up and down across the country,” De Haan said.

Copyright 2022 Gray Media Group, Inc. All rights reserved.

Adblock test (Why?)



from "price" - Google News https://ift.tt/SgOzUvf
via IFTTT

Comments

Post a Comment

Popular posts from this blog

After street vendor crackdown, Corona Plaza market is a changed place - Gothamist

Image
The stretch of pavement in Queens where Liliana Sanchez used to sell aguas frescas has been empty since city sanitation police forced her to pack up her pop-up tent canopy. Her 16-year-old daughter now spends school nights and weekends busing tables to help pay rent. Across the street from Corona Plaza, sales at Alondra Cardoso’s hair salon have dipped 30%, or some $200 to $300 dollars a week, since the clientele from the former street vendor market no longer venture into her shop. Delivery worker Jorge Marin, 35, now orders breakfast from a bakery at a nearby intersection. He used to load up on tamales and yogurt and steaming cups of champurrado at the market, which expanded during the height of the pandemic. Now, at the bakery, he said he spends more for less. “It’s been dead,” Queens Borough President Donovan Richards said of the plaza since the vendors’ departure. “It’s taken the life out of the community.” The scene on a recent day in Corona Plaza, Queens, where a crack
Read more

Consumer Price Inflation, by Type of Good or Service (2000-2022) - Visual Capitalist

Image
Published 1 day ago on February 22, 2023 Consumer Price Inflation, by Type of Good or Service (2000-2022) The Consumer Price Index (CPI) provides a steady indication of how inflation is affecting the economy. This big picture number is useful for policymakers and professionals in the financial sector, but most people experience inflation at the cash register or checkout screen. Since the start of the 21st century, U.S. consumers have seen a divergence of price movements across various categories. Nowhere is this better illustrated than on this chart concept thought up by AEI’s Mark J. Perry . It’s sometimes referred to as the “chart of the century” because it provides such a clear and impactful jump-off point to discuss a number of economic forces. The punchline is that many consumer goods—particularly those that were easily outsourced—saw price drops, while key “non-tradable” categories saw massive increases. We’ll look at both situations in more detail below. Race
Read more