Detroit Bureau on Twitter

Posts Tagged ‘gas prices surging’

Demand Driving Up Gas Prices Across US

Unrest in Middle East adding to pricing volatility.

by on Nov.10, 2017

Demand is on the rise across the U.S., which is causing gasoline prices to rise.

Demand for gasoline in October reached its highest levels since 2006 while supply continues to drop, leading to a surge in gasoline prices, particularly in the Midwest.

At the same time a new wave of unrest in the Middle East triggered by signs of instability in Saudi Arabia also has begun to drive up the price of crude oil across the globe, which could lead to even higher prices at the pump in the future.

News You Can Trust!

The latest gasoline demand measurement is the highest for the end of October since 2006. At $2.53, today’s gas price is six cents more than a week ago, two cents more than a month ago and 31 cents more than a year ago, according to the Energy Information Administration.  (more…)