Gasoline prices in Lancaster County hit 4-month high

Gasoline prices in Lancaster County hit 4-month high

Roseanne Whisman of Decatur, who was getting gas for her 1979 Chevy truck last week, has noticed the higher prices.

Prices across the state of Georgia rose by an average of 3.5 cents last week to around $2.48 a gallon, according to AAA. Last week, the average price was $2.29 in both counties. IL is tops in the region at $2.63 per gallon, while OH has a state average about 20 cents per gallon lower. The rise in local gas prices in the past week was triple the average increase nationwide, but Chattanooga gas prices still averaged 21 cents per gallon below the USA average of $2.57 a gallon. That's up a penny from a week ago, and 23 cents higher than this time in 2017. The national average was $2.58 on Monday.

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $66.14 per barrel, $2.77 cents higher than the previous week and rising $2.24 since Monday's close, Wilmington-based AAA-Mid Atlantic reported.

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"Crude oil has been selling at very expensive rates the past few months", Castellano said.

As for that expected winter decline in gas prices? During their downtime, these refineries reduce the amount of gasoline they put out into the market. "One remaining beacon of hope is that domestic oil production would ramp up sooner than later, and end the upward momentum on oil prices". Moving into this week, oil prices are likely to continue trending higher.

Crude oil prices started the week in a tailspin, but jumped 5.5 percent, or $3.70 per barrel, over the span of the first eight trading days in January, according to US federal data. In fact, about half the price of gasoline is steered by the cost of crude.

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