AAA: Americans Paying 14% More At The Gas Pump And Prices Are Expected To Keep Rising
NORTH TEXAS (CBSDFW.COM) — A warning from AAA -- gasoline prices are expected to keep climbing this week. Currently, the national average price of gas is nearing $3.00 a gallon.
According to AAA, people in the U.S. are paying 14-percent more at the pump this month than they did in February.
AAA spokesperson Jeanette McGee said, "With increased demand and tighter gasoline supplies, we are looking at more expensive pump prices with little relief in the weeks ahead."
Crude oil prices keep climbing due to the decision by The Organization of the Petroleum Exporting Countries and its allies (OPEC+) to keep current crude oil production cuts in place through April. This, coupled with market optimism of the impact the stimulus package could have on the economy, has led to higher prices at the pump.
"Gas prices are expected to keep rising in the coming days as crude oil prices climb," said AAA Texas spokesperson Daniel Armbruster.
Right now the national average price for a gallon of unleaded is $2.87. As of March 11, the average gas price in Texas was $2.57 for a gallon of regular unleaded. The last time the statewide average was at this price was around Memorial Day 2019.