The United States may be on the verge of a rise in gasoline prices, with prices rising to as much as $ 4 per liter in some U.S. states, according to AAA.
As crude oil prices have risen in recent weeks, according to AAA data, Americans are already paying 14% more for a liter of gasoline than they were in February.
And signs do not indicate that prices will fall any time soon.
“With greater demand and tighter gasoline inventories, we are looking at more expensive pump prices with little relief in the coming weeks,” AAA spokeswoman Jeanette McGee said in an article on AAA’s website.
Gas supplies for the week ended March 5 have fallen as fuel demand continues to rise to levels not seen since November.
The price of WTI crude oil rose sharply throughout 2021, from $ 48 per barrel at the beginning of the year to more than $ 65 per barrel, as the supply situation began to increase as crude demand increased and OPEC + continued to limit production.
In particular, the rise in gasoline prices over the past few weeks has been exacerbated by the disruption of oil refineries in the United States following the devastating effects of freezing temperatures that hit Texas a few weeks ago, causing widespread refinery disruptions that have not yet fully returned to normal. As more refinery units return online, higher gasoline prices may be somewhat eased.
And prices could reach $ 4 in some areas by the summer months – the typical peak of the driving season.
The areas that have seen the highest price increases at the pump in the past week are Utah, Idaho, Missouri, Florida, Kentucky, Illinois, South Caroline, Alabama, Mississippi and Wyoming – all of which have seen double-digit increases, from 10 cents per liter to 25 sent per liter. However, according to AAA, Mississippi is still the cheapest gasoline market in the country.
By Julianne Geiger for Oilprice.com
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