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Gasoline prices for New Year’s are the highest they’ve been since 2014 and have reached $2.34 per gallon for the week ending Jan. 2, according to AAA.
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Gasoline prices have increased about 7% in December and have reached $2.29 per gallon for the week ending Dec. 27 but are still significantly lower than this time in 2014 and 2013.
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The national average price for a gallon of regular unleaded has increased for 20 of the 21 days leading up to Dec. 19 to reach $2.24, which marks the highest level since October, according to AAA.
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The national average price of gasoline has increased for 14 days in a row to $2.21 on Dec. 12 after the Organization of Petroleum Exporting Countries (OPEC) agreed to cut oil production.
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The national average price of gasoline increased five cents to $2.18 following an agreement from oil-producing countries in the Middle East to cut production.
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The average price of a gallon of unleaded gasoline fell 1 cent to $2.13 ahead of a Wednesday meeting of oil-producing Middle East nations at a time when gasoline has reached its lowest level in almost a decade, reports AAA.
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The average price of a gallon of unleaded gasoline fell to $2.14 on Nov. 21, which marks the second-cheapest gasoline price since 2008 for the Thanksgiving Day holiday, according to AAA.
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The national average price for a gallon of regular unleaded declined for 10 days to $2.17 per gallon on Nov. 14, which was 5 cents lower than a year ago, amid an abundance of crude oil in the global market.The price is inline with where it was a year ago.
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The national average price of regular unleaded remained flat compared to a week ago, following a brief spike caused by some disruptions on the Colonial Pipeline, according to AAA.
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An explosion in Alabama on what’s said to be the biggest fuel pipeline in the U.S. Monday will likely lead to a temporary price spike in diesel and gasoline in the Southeast states served by the pipeline and also may affect the Northeast.
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