Gas Prices Up 49 Cents Since Start of Year; Higher Prices Yet To Come
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After 36 consecutive days of rising gas prices, AAA Mid-Atlantic reports the national average fell for three straight days last month. (AP Photo, file)
Gas Prices Up 49 Cents Since Start of Year; Higher Prices Yet To ComeMore>>
Although drivers found some slight relief at the pumps this week, AAA Mid-Atlantic reports the national average price of gas still marked the highest on record for this calendar day.
According to AAA, the price of regular grade gasoline was $3.77, down a cent this week.
After 36 days of rising prices, AAA says the national average fell for three straight days from Feb. 23 to the 25 to break the longest string of increases in nearly two years.
The recent surge, according to AAA, is the result of refinery maintenance and other issues, which have produced less gas and fewer supplies.
"Motorists unfortunately are paying more for gasoline than ever at this time of year," Jana Tidwell of AAA Mid-Atlantic said in a statement. "There is a lot of uncertainty on where gas prices will go over the next few weeks and there is still refinery maintenance to be completed and most of the country must transition to summer-blend gasoline, so motorists are likely to face continued high prices in the weeks ahead."
AAA analysts believe gas prices may peak sooner than in previous years.
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