Posted 3/22/2024, 4:20:38 PM
Gas Prices Continue to Climb, Exceeding $3.50 per Gallon Nationally Due to High Crude Oil Prices and Tight Inventories
- Gas prices increased this week to over $3.50/gallon amid rising oil prices, falling inventories, and summer blend gas
- National average on Friday was $3.53/gallon, nearly $0.10 higher than a year ago
- California approaching $4.97/gallon, $0.14 more than last year
- Oil prices have climbed $10/barrel since early 2022 due to OPEC+ cuts and Russian supply issues
- Midwest may see slower increases after BP's Indiana refinery resumed operations post-outage