Average U.S. Gas Prices Climb to 2016 High

The national average price of gas reached a new 2016 high over the weekend, and today’s average of $2.38 per gallon is the most expensive average since September 2015. Gas prices have moved higher by two cents per gallon on the week and 16 cents per gallon on the month. Although pump prices have increased for 28 of the past 33 days, consumers continue to benefit from yearly savings and prices are down 42 cents per gallon compared to a year ago.
The cost of crude oil has moved higher over the past few weeks, which has made gasoline more expensive to start the summer driving season. Crude oil prices have increased due to unexpected disruptions in places like Canada and Nigeria, while questions continue to mount over future production in Venezuela. Since early April, the cost of crude oil has increased by more than $13 per barrel to the highest levels since 2015. With all other factors being equal, a $1 per barrel change in the price of crude oil can increase gas prices by 2.4 cents per gallon. Prices may continue to fluctuate on the heels of news related to global oil supply and the U.S. dollar, which could have a major impact on what drivers pay for gasoline this summer.




Despite fear, AAA survey reveals that experience with vehicle technology leads to trust
Newer model vehicles are equipped with a tire pressure monitoring system (TPMS) to warn drivers that at least one of their tires is underinflated. The dashboard light looks like an exclamation point inside of a horseshoe and, if illuminated, should be addressed immediately, says the non-profit Car Care Council.
