With the demand for gasoline soaring during the dog days of summer, motorists can expect gas prices to peak to the highest price since 2014.
With Labor Day fast approaching, statewide gas prices are beginning to peak, with an average price nationwide of $2.87 per gallon, the most expensive prices in four years. Officials said that there will likely be a spike in prices toward the end of the summer.
The national average is down one cent from a week ago, and up 53 cents from a year ago.
The tri-state area remains one of the more expensive places to pay at the pump, with Connecticut residents paying an average of $3.06 per gallon, and New Yorkers dishing out an average of $3.00 per gallon.
“We are likely going to see an end of summer pump price rally as inventories continue to tighten, especially on the East Coast,” AAA spokesperson Jeanette Casselano said. “This week’s EIA demand and inventory reports will give further indication of how much higher the national gas price average could jump before summer is over.”
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