Health Care

AAA: Gas prices higher, likely to keep rising for now

Gas prices across the Mid-Atlantic region have resumed their upward climb following days of inactivity.

The auto club traces the increases to higher crude oil prices and tension in the Middle East, and predicts prices will continue to rise due to higher demand during the summer driving season.

Today's national gas price average is $2.71, which is up 5 cents in the last week, up 18 cents in the last month and 30 cents higher than this time past year.

$2.12 per gallon in 2017, $1.91 in 2016, $2.18 in 2015, $3.47 in 2014 and $3.29 in 2013.

The EIA also expects USA gas consumption to increase 0.2 percent in comparison to last summer, as highway travel is projected to increase by 1.3 percent - the difference being offset by gains in vehicle fuel efficiency.

USA gas prices tend to reflect changes in the Brent global crude oil benchmark. Also weighing on prices are shrinking global inventories of crude oil and the expectation of a supply cut extension from OPEC nations aimed at shrinking the glut of global crude oil supplies. In the past few years, the average date that gas prices have peaked is mid-May, which is just around the corner, and by all metrics, that could be very close to what we expect this time around. The agency is forecasting an average gas price of $2.64/gal for all of 2018. The highest average price was in the Ann Arbor area for a third straight week, where it was about $2.80 per gallon. Metro Detroit's average is about 26 cents more than this same time previous year.



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