Fort Wayne sees weekly dip in gas prices

Posted April 20, 2017

Gas prices in Virginia are the highest they've been this year, says AAA Tidewater. That's an increase of 11.1 cents per gallon during the last month and 29.2 cents per gallon higher than a year ago. That's nearly 30 cents higher than one year ago at this time. The area's gas prices are 39 cents a gallon higher that a year ago.

Last year, Pittsburgh-area prices increased 73 cents from late-February to mid-June.

Statewide, the average cost is $2.18, which is up 4 cents, according to the website survey. Midgrade is averaging $2.48, from $2.29 to $2.66. Fort Lauderdale was second, at $2.472, followed by Miami, at $2.466.

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Tulsa- $2.12/g, down 0.7 cents per gallon from last week's $2.13/g.

Prices have increased 15 cents since the beginning of April - a 6 percent jump - after virtually no movement through the first three months of 2017. Oil dipped below $48 per barrel in mid-March but has risen to $52.83 as of noon Monday. The region made the final switch to summer-blend gasoline last week, causing states in the region to top the list of largest weekly increases: DE (+9 cents), Vermont (+6 cents), Maryland (+6 cents), North Carolina (+5 cents), Rhode Island (+5 cents), ME (+5 cents) and Pennsylvania (+5 cents). OPEC and some non-OPEC countries have agreed to cut production to support oil prices. However, IEA noted in the absence of OPEC extending its production cuts, the second half of the year could be more volatile due to a tighter USA supply and lower global oil demand. What that means for USA motorists is that pump prices are likely to rise as gasoline prices catch up with crude oil prices.

Though weeks late this year, the seasonal rise in gasoline prices has officially arrived.