Higher Gas Prices at the Pump for Summer
You may have noticed higher gas prices at the pump over the last month, prepare for more increases. According to GasBuddy gasoline prices have gone up every week for the past nine weeks.
Gasoline price nationally is at about $2.79 per gallon, that's up about a nickel over the past week. By summer the national average is predicted to be about $3.00 per gallon.
As the nation starts to experience some relief from COVID-19 restrictions, Americans are starting to venture out more and more, buying more gasoline now than in 2020. The increase in gas usage as the COVID-19 vaccine makes its way to more and more Americans, the close of a refinery in Texas and OPEC extending oil production cuts for at least another month are all reasons for the increase at the pump.
As the nation tries to bounce back from the doom and gloom of 2020 and many citizens unemployed, higher gasoline prices may not be the best news for families struggling financially or the economy in general.
However, higher gasoline prices are typically healthy for the Acadiana economy. OPEC's miscalculation of crude oil production coupled with the relaxed COVID-19 restrictions, Acadiana is destined to bounce back quickly from the rath of the pandemic.
According to GasBuddy it's common to find higher gas prices going into the summer months.
Motorists should prepare for further gas price increases in the weeks and potentially months ahead.-GasBuddy.com