Local residents may want to start filling up now, as the region is expected to see some of the highest gas prices in years at the pump this summer, according to reports.
As of this week, national gas prices reached an average of $2.66, just one cent lower than the high of $2.67 from last year, and prices are only expected to rise, according to the latest report from AAA. The price is up a cent from a week ago, 13 cents from a month ago and 24 cents from a year ago.
By the end of the summer, prices are expected to reach the highest total since 2014. A AAA spokesperson cited “a volatile marker, higher crude oil prices, and higher consumer demand are driving average gas prices up nationally and motorists can expect to see prices increase in early April.”
“Motorists can expect to see prices increase in early April and continue through the start of summer when refinery maintenance will be wrapped-up, the weather becomes warmer and the switchover to the more expensive summer-blend gasoline kicks in.”
According to a AAA New York spokesman, the price has been affected by multiple factors, including the price of crude oil overseas and an increase in demand nationwide. It also comes at a time when refineries begin the process of transitioning from a winter blend of gasoline to a more eco-friendly, expensive, summer blend.
“Gas prices are only a penny away from topping the $2.67 high of 2017,” Jeanette Casselano, AAA spokesperson said. “The price is likely to increase as spring brings warmer weather and the switchover to summer blend gasoline, but hopefully we will only see mild jumps in coming weeks.”
The tri-state area remains one of the most expensive places to buy gas in the country, with an average of $2.76 in New York, $2.68 in New Jersey and $2.75 in Connecticut.
Click here to sign up for Daily Voice's free daily emails and news alerts.