Gas, Diesel, Higher in the Last Week

After a week in which the national average held unchanged, gas prices resumed their climb, rising 6.5 cents compared to a week ago at $3.57 per gallon. The national average is up 17.1 cents from a month ago but 0.8 cents per gallon lower than a year ago. The national average diesel price increased 3.1 cents in the last week and stands at $4.02 per gallon—15 cents lower than one year ago.

GasBuddy’s Patrick De Haan says, “With oil prices rising to nearly $87 per barrel last week, their highest since October, we are not only facing the seasonal factors that push prices up—refinery maintenance, the switch to summer gasoline, and rising demand—but also escalating crude oil prices.”

As OPEC maintains strict output cuts, oil prices have continued to find support, climbing on geopolitical escalations in the Middle East and worry about Israel and Iran attacking each other amidst rising global demand.

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