Gasoline is following crude oil sharply higher, and AAA says part of the reason is the White House decision to withdraw from the Iran deal.
According to GasBuddy, the national average for a gallon of gas is $2.86, which is up 5.7 cents compared to one week ago. That means it is renewing sanctions, which include not buying Iranian oil.
The AAA analysis shows motorists in 19 states are now paying above the national average for fuel, with nine states seeing average gas prices above the $3 a gallon mark. Areas in California and their current gas price climate: Stockton- $3.58/g, up 7.3 cents per gallon from last week's $3.50/g.
Sacramento, CA, May 14- Average retail gasoline prices in Sacramento have risen 3.3 cents per gallon in the past week, averaging $3.55/g yesterday, according to GasBuddy's daily survey of 720 gas outlets in Sacramento.
The state is seeing an average price of $2.60 per gallon.
"That same barrel this time a year ago could've been bought for about 49 dollars", Right points out. It now stands at $2.87 per gallon. After that, many places along Interstate 90 have gas for $2.99 per gallon. About GasBuddy GasBuddy is the technology company changing the way more than 75 million consumers find, purchase, and save money on gasoline.
They point out that US oil production capacity is much larger now than a decade ago.
In addition to the summer blend of gas costing more to produce, Williams says economic pressures at home and political uncertainty in the Middle East are driving the prices up.