{"id":120701,"date":"2017-11-10T08:58:26","date_gmt":"2017-11-10T13:58:26","guid":{"rendered":"http:\/\/www.thedetroitbureau.com\/?p=120701"},"modified":"2017-11-10T09:02:54","modified_gmt":"2017-11-10T14:02:54","slug":"demand-driving-up-gas-prices-across-us","status":"publish","type":"post","link":"https:\/\/thedetroitbureau.com\/2017\/11\/demand-driving-up-gas-prices-across-us\/","title":{"rendered":"Demand Driving Up Gas Prices Across US"},"content":{"rendered":"
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Demand is on the rise across the U.S., which is causing gasoline prices to rise.<\/figcaption><\/figure>\n

Demand for gasoline in October\u00a0reached its\u00a0highest levels since 2006 while supply continues to drop, leading to a surge in gasoline prices, particularly in the Midwest.<\/p>\n<\/div>\n

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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.<\/p>\n<\/div>\n

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News You Can Trust!<\/figcaption><\/figure>\n

The latest gasoline demand measurement is the highest for the end of October since 2006. At $2.53, today\u2019s 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.\u00a0<\/p>\n<\/div>\n

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\u201cOctober has seen strong demand numbers likely, in part, due to consumers taking advantage of the unseasonably warm weather\u00a0rather than spending time indoors,\u201d said Jeanette\u00a0Casselano, AAA spokesperson.<\/p>\n<\/div>\n

(Hyundai has big plans for new Smart Stream gas, diesel engine family. <\/em>Click Here<\/a><\/span>\u00a0for the story.)<\/em><\/strong><\/div>\n
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\u201cAs consumers fill up their tanks more frequently, we are seeing supply levels tighten and gas prices increase. However, we don\u2019t expect this increase to be long-term.\u201d<\/p>\n

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Gas prices are likely to continue rising in the near term.<\/figcaption><\/figure>\n<\/div>\n
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The national gas price average during the second half of October was relatively stable, fluctuating a penny or two until Oct.\u00a031. Since then, the national price has seen upward movement, primarily resulting from increased demand.<\/p>\n<\/div>\n

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The\u00a0nation\u2019s top 10 largest weekly increases are: Michigan where the price increased by 21\u00a0cents\u00a0per gallon,\u00a0Ohio where it increased 20 cents, Illinois where it increased\u00a019 cents, California where the price increased\u00a017 cents, Wisconsin increased 16 cents per gallon, Indiana where it climbed 14 cents, Missouri where it went up 11 cents, Kentucky where it went up 10\u00a0cents,\u00a0Minnesota where it went up 8\u00a0cents\u00a0and\u00a0Nebraska where it went up 7 cents.<\/p>\n<\/div>\n

(<\/em>Click Here<\/a><\/span>\u00a0for more about gas prices.)<\/em><\/strong><\/div>\n
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The West Coast continues to lead the U.S. among most expensive markets.<\/p>\n<\/div>\n

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Six of the top 10 most expensive markets in the country are found in this region: California with at $3.21 per gallon, leading the way.\u00a0Most\u00a0prices in the region have risen during\u00a0the past week, with California and\u00a0Alaska\u00a0seeing\u00a0the largest increases of markets in the region.<\/p>\n<\/div>\n

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Drivers in California are likely to see pump prices increase due to new gasoline taxes that were imposed on Nov.\u00a01. The tax rate for gasoline increased 12 cents per gallon, from 29.7 cents per gallon to 41.7 cents per gallon.<\/p>\n<\/div>\n

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Compared with\u00a0a year ago, more than a dozen Great Lakes and Central states are paying at least 25 cents more a gallon to fill up their tanks. Topping the year-over-year increases list are Indiana where prices have gone up 60 cents per gallon, Illinois up 59\u00a0cents, Michigan up 54 cents, Ohio up 52 cents, Wisconsin up 51 cents, Minnesota up 44 cents, Missouri up 43 cents and Kansas up 40 cents per gallon.<\/p>\n<\/div>\n

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Last\u00a0week,\u00a0hit\u00a0West Texas Intermediate crude hit a new 2017 high at $54.54 per barrel and the market will likely build on those gains this week. At the close of Friday\u2019s formal trading\u00a0session on the NYMEX, WTI settled up $1.10 a barrel\u00a0at $55.64 a barrel. The latest EIA report showed major inventory draws and increased exports, both of which have helped push oil prices higher.<\/p>\n<\/div>\n

(To see\u00a0more about London’s war on diesel engines, <\/em>Click Here<\/a><\/span>.)<\/em><\/strong><\/div>\n
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The combination of rising demand and increasing exports of crude oil from the U.S. has given market observers renewed expectations that\u00a0ioil\u00a0prices will move higher in the weeks to come as supplies appear to grow tighter and demand remains strong, fueled by oil demand growth in key export\u00a0markets,\u00a0AAA\u00a0noted.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Demand for gasoline in October reached its highest levels since 2006 while supply continues to drop, leading to a surge in gas prices. Get details at TheDetroitBureau.com.<\/p>\n","protected":false},"author":20009,"featured_media":118545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[8],"tags":[],"make":[],"post-state":[],"category_old":[151],"acf":[],"_links":{"self":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/120701"}],"collection":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/users\/20009"}],"replies":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/comments?post=120701"}],"version-history":[{"count":0,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/120701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media\/118545"}],"wp:attachment":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media?parent=120701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/categories?post=120701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/tags?post=120701"},{"taxonomy":"make","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/make?post=120701"},{"taxonomy":"post-state","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/post-state?post=120701"},{"taxonomy":"category_old","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/category_old?post=120701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}