Gas prices expected to increase by up to 20 cents over the summer
The projected cost of a gallon of gas nationwide is $3.25, a dollar more than it was on Jan. 1, 2021.
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The average price of a gallon of gas is expected to increase by 10 to 20 cents nationwide by August as a result of easing COVID-19 restrictions allowing for more travel, an automobile trade group said Tuesday.
The American Automobile Association (AAA), a federation of motor clubs, said Tuesday that the national gas price had increased 40% from $2.25 to $3.13 between Jan. 1 and July 6. The group projected another increase of 10 to 20 cents leavening the national average cost of $3.25 per gallon.
"Robust gasoline demand and more expensive crude oil prices are pushing gas prices higher," Jeanette McGee, a AAA spokesperson, said, according to The Hill.
McGee also said the upcoming rise in gas prices and crude oil is partly due to the group of oil and gas producing countries called OPEC calling off a meeting between member nations on Monday. McGee said the meeting falling apart would cause "crude prices ... to surge to a seven year-high."
The group predicted crude oil prices would surge to $76.40, the first time since November 2014, which will lead to further gas price increases.