Prices at the pump hit a fresh high this week with no signs of slowing down, according to an industry analyst.
The U.S. gas prices are presently at about $3.21 per gallon across the nation, which is the highest in the last seven years, tweeted Patrick De Haan, head of petroleum analysis for GasBuddy.
De Haan further predicted that gas prices would continue to rise and potentially eclipse $3.30 gal by the end of the month. De Haan predicted that prices will likely rise in most areas of the country over the next two weeks, with the Great Lakes region likely to notice more pain before other areas. Drivers in some parts of Indiana, like Michigan, Chicago and Michigan are feeling the pinch, according to an analyst.
He also projected that prices in Indiana and Ohio are likely to rise, after Cleveland as wholesale gasprices have now risen nearly 30 c gal in the last week. Drivers across the country have seen a surge in fillip at roads. Since 2012, the average price of gas has already exceeded $4.42 per gallon at Los Angeles Gas Station (Local).
Oil prices rose on Monday, after OPEC and other oil-producing countries stayed with their gradual approach to restoring output since the pandemic, agreeing to add just 400,000 barrels per day in November. West Texas Intermediate crude oil hit a seven-year high for $79.07 a barrel on Tuesday.