Markets

Shelby County boasts region's lowest gas prices

Shelby County boasts region's lowest gas prices

According to AAA, the average price in Montezuma County for regular unleaded gasoline was $2.54 on Sunday.

Nebraska- $2.38/g, down 2.1 cents per gallon from last week's $2.40/g.

AAA's Lloyd Albert says that crude oil has been more expensive this year, and also in high demand.

AAA found regular gas in MA for sale as cheaply as $2.31 per gallon and as expensive as $2.79 per gallon.

There is a major factor that plays into the price of gas throughout the year.

States with the lowest average gasoline prices: Missouri ($2.21), Arkansas ($2.23), Oklahoma ($2.23), Alabama ($2.25), SC ($2.25), MS ($2.25), Texas ($2.26), Tennessee ($2.27), Kansas ($2.27) and Louisiana ($2.27). West Texas Intermediate crude settled at a four-year high above $62 a barrel last week as global supply levels tightened.

How high will gas prices go in 2018?

"While gasoline prices overall remain affordable, one aspect that continues to worsen is the gap between what stations are charging. But I think during the next month, as you move away from the holidays, you'll begin to see gasoline prices going down", he said.

By region, the West Coast market is the most expensive in the country, with California taking top honors in the Lower 48 with $3.16 per gallon, though that price is inflated by a new tax that went into effect a year ago.

A consumer watchdog website has released a warning about fuel prices in 2018.

AAA Mid-Atlantic reported the price of self-serve regular rose to $2.44, up a couple of pennies from a week earlier and about a dime above a year ago.

Fuel prices are expected to start falling by late January and into February.

Overall, for the entire year ahead, the average price in the U.S.is projected to rise 8 cents to $2.57 a gallon, the highest price since 2014.

"When we take a closer look, we see that volatility is built into the price we pay at the pump because many components, both globally and locally, have a hand in simultaneously pressing those prices higher and/or lower", Teague says in his report. Seasonal price differences such as formulation changes from winter-to summer and then summer-to-winter blends, are just the first of many factors influencing pump prices in both the USA and Canada.