Photo: Justin Sullivan / Getty Images
For: Luis Diaz
Friday, November 15
Gasoline prices in the US depend on the geographic area where you are
Gasoline prices are not the same across the country, despite widespread increases across the nation due to the rise in the price of crude oil worldwide . The cost of a gallon of fuel may vary by geographic area, as well as by weather conditions.
Under these parameters in recent days in some In areas of the United States, costs have fallen compared to the prices registered in November, which represented an increase of 60% compared to last year’s low triggered by the rise of the Covid pandemic – 19.
This is due to the release of strategic fuel reserves in the United States, in order to rise in prices and expectations of more supply in the coming months, along with the uncertainty of demand linked to the new Omicron variant of the coronavirus
“A The recovering economy coupled with strong employment is leading to a increased demand for gasoline, “said Andrew Gross, spokesman for the American Automobile Association. “This increase in demand should boost pump prices, but has been mitigated by fluctuations in the price of crude oil.”
Some areas of the country have experienced a faster price drop than others. Some of that relates to additional additives required by states like California, geographic isolation of supply, and weather events that hampered delivery to the Pacific Northwest. , according to Reuters.
The average price of gasoline in California as of last week it was $ 4. 67 dollars a gallon, just two cents a gallon less than a month ago. In Oregon, it was $ 3. 77 dollars a gallon, just a penny cheaper than a month.
Meanwhile, in states like Michigan and Indiana, the average retail price of gasoline has dropped more than 28 pennies. The average price of a gallon of gasoline in Michigan is $ 3. 153 dollars, 23 pennies less than a month ago, according to GasBuddy.
The main reason why gasoline prices are lower has been the fall in the price of crude oil, which represents more than half the price of gasoline.
Oil prices are increasing by 50% from last year, as demand has recovered, while supply has slowed the market. Since it peaked at around $ 86 dollars per barrel, the benchmark Brent crude index has dropped to around $ 73 dollars per barrel, which represents a decrease in the 15% .
The American Automobile Association forecasts that more than 100 million Americans will be on the road during the holiday season, an increase of the 28% with respect to the period affected by COVID of 2020. Which means there will be more fuel consumption.
Also It may interest you: The streak of decline in the average price of gasoline in Los Angeles County stopped after eight days