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.