Gasoline Prices Trending Upward, Midwest The Cause
You’ve seen gasoline prices jump up as much as 10 cents higher in the past day or so. Why the climb?
Turns out fuel supply from the Gulf Coast is heading north to the Midwest, which has been dealing with supply shortages because of storms and refinery issues.
So following the concept of supply and demand, when our supply decreases and our demand stays consistent, prices rise.
Today, the average price for a gallon of regular fuel is $3.30. Yesterday, the average price was $3.27.
Prices were projected to be less this year than last year, but at this time last year, Shreveport-Bossier drivers were paying $3.22 on average.
And it’s not just Shreveport-Bossier. Texarkana, TX, customers are paying $3.40 on average now, up three cents from yesterday. It was $3.32 this time last year.
Arkansas-side customers are paying $3.37, three cents more than yesterday. Last year, it was $3.27.
AAA Spokesman Don Redman says prices were forecast to be below last year’s prices, but unexpected events caused the spikes. He adds he expects this to be short lasting, but notes anything can happen.