Drivers brace for higher gas prices

Drivers brace for higher gas prices

Drivers brace for higher gas prices

Local prices are 17 cents higher than a year ago.

This compares with the national average that has increased 5.2 cents per gallon in the last week to $2.71 per gallon.

According to GasBuddy historical data, gasoline prices on April 16 in Honolulu have ranged widely over the last five years: $2.90/g in 2017, $2.42/g in 2016, $2.95/g in 2015, $4.26/g in 2014 and $4.31/g in 2013.

The national average price for gasoline is the highest in more than two years, AAA said.

But Milani says in addition to the usual spring bump in fuel prices, a steep rise in crude oil prices will also begin impacting the prices you see at the pump.

"Once that gasoline gets to the gas pump we see prices go up there because the gasoline is more expensive to add the additives in and more expensive to produce, so that cost gets passed on to the consumers".

Gas prices as of Sunday, were 30-cents higher than they were this time a year ago. Although Syria is not a major oil producer, AAA says tension in the country could ripple to other countries in the region and restrict global oil supply flows.

"In the past few years, the average date that gas prices have peaked is mid-May, which is just around the corner, and by all metrics, that could be very close to what we expect this time around", DeHaan said.

DeHaan said refinery maintenance has gone well so far, gasoline supply has continued to increase and the transition to summer gasoline supplies is nearly finished. Crude oil prices rose more than 8.5% last week, primarily on geopolitical issues like the attack on Syria and a trade war with China.

Chattanooga had Tennessee's cheapest gasoline on Monday at $2.46 a gallon.

States with the lowest average gasoline prices: Missouri ($2.42), Oklahoma ($2.43), Arkansas ($2.43), MS ($2.45), SC ($2.46), Louisiana ($2.47), Kansas ($2.48), Texas ($2.48), Alabama ($2.49) and Wyoming ($2.50).

That means, "the reasons gas prices rise will shrink", DeHaan said.

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