Source: Albany Times Union/Hearst Newspapers / Getty
With spring break in sight, gas prices are on the rise.
Analysts expect it to keep rising as oil prices trend upward, refineries struggle with capacity and states transition to a more expensive summer fuel blend, though prices are far from where they were at their mid-2022 peak.
On Friday, the national average cost for a gallon of gas increased to $3.31 per gallon — up 21 cents compared to a month ago. It is, however, four cents less than a year ago, when the average was $3.35, AAA reports.
The jolt at the pump comes as the price of oil—which is refined into gasoline—continues to rise, with the U.S. benchmark West Texas Intermediate increasing by nearly 3% over the past month to over $79 per barrel, and the international benchmark Brent Crude Oil jumping 1.20% over the same time to nearly $82.
Gas prices usually drop around Memorial Day.
