If it seems like gas prices jumped overnight that’s because they did, and there is a wide range of prices depending on where you go so shop around. The cost of regular unleaded at the BJs filling station in Johnston was $3.55 yesterday, while down the street at the Citgo it was $3.89. Both Shell and Mobil on Rt 44 in Smithfield were charging $3.99! And now word is soon we could be seeing $5 a gallon gasoline!
According to Triple-A the national average price for regular is $3.87 per gallon, which is an increase of an average of eleven cents from a day ago. And this time last month we were paying 40 cents less per gallon!
There are lots of factors at play here including increased demand, a drop in U.S. crude oil stockpiles, and skyrocketing prices for crude oil which now costs over $110 a barrel! And of course the war in Ukraine is a factor. There is mounting bipartisan pressure on the Biden administration to ban all imports of oil from Russia, and if that happens you can expect the price to soar even higher.
Because of this, analysts are telling Americans to get ready to shell out $5 per gallon of gas soon. Looks like San Francisco is already there. Buckle up!
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