Gas Prices Likely To Start Trending Upward

As crude prices push higher, pump prices are expected to follow.

The national gas price average on Tuesday, Jan. 22, held flat compared to last week at $2.25.

AAA reported that if the price were to dip by just three cents it would be the lowest pump price since December 2016. However, AAA predicts further dips in price are unlikely as crude oil prices are trending upward.

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“Crude oil prices have increased by $5/bbl since the beginning of the year, but over-supply of crude in the market and low demand have helped to keep the national average relatively stable,” said Jeanette Casselano, AAA spokesperson. “Crude oil prices will be a dominant factor towards determining if motorists will see slightly cheaper or more expensive pump prices in coming weeks.”

The national gas price average was nine cents cheaper than a month ago and 29 cents less expensive than a year ago, AAA reported.

Kentucky (+7 cents), Florida (+6 cents) and Utah (-6 cents) saw the biggest price changes week over week. Missouri ($1.90) has the least expensive gas in the nation. California ($3.27) and Hawaii ($3.27) are tied for the most expensive market in the nation.