Gas prices rise again, no sign of letting up this summer
After a brief dip, gas prices in the U.S. are on the rise again.
The U.S. average price for a gallon of gasoline rose 2 1/2 cents from last week to $3.09 per gallon on Monday, according to the travel and fuel price tracking app GasBuddy.
The national average is now almost 5 cents higher than a month ago and 92 cents higher than this time last year.
GasBuddy petroleum analyst Patrick De Haan says Americans should expect to pay even more at the pump heading into July 4th, a popular road trip holiday.
With the U.S. economy rapidly recovering from the 15-month-long coronavirus pandemic, demand for fuel is rising and pushing prices to levels not seen since 2014. And hurricane season always carries the prospect of higher prices if a storm impacts oil drilling and refining on the Gulf Coast.
“Motorists should prepare to dig deeper for the second half of the summer, unfortunately,” De Haan said.