REPORT: Gas Prices Going in the Wrong Direction For Consumers

BY TEAM DML / OCTOBER 10, 2018 /

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As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by COOSAVALLEYNEWS.COM:

The national gas price average increased three-cents on the week to $2.91. All but seven states are paying more on the week. Today’s national gas price average is six-cents more than a month ago and 41-cents more than a year ago.

“The September switch-over to winter-blend gasoline ushered in cheaper gas prices compared to the summer, but that drop was short lived,” said Jeanette Casselano, AAA spokesperson. “Crude oil accounts for half of the retail pump price and crude is selling at some of the highest price points in four years. That means fall and year-end prices are going to be unseasonably expensive.”

The article goes on to state the following:

Crude oil has priced higher amid concerns of global crude supply and geopolitical tensions, including pending sanctions with Iran and Venezuela’s unstable economy.

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1 Comment

  1. Quercus October 10th, 2018 at 10:22 am

    Oil from oil leases on public land should not be sold on the open market. That oil is owned by the people of this country. It should be sold at cost of production to lower retail gas prices. Also oil lease prices should reflect their actual value. The US gov gives them away at less then $50.00 an acre.

    Reply

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