“No sign of relief’ at the pump
JONESBORO, Ark. (KAIT) - With gas prices continuing their upward trend, one analyst says motorists should not expect any relief at the pumps.
According to GasBuddy.com’s daily survey of 1,826 stations in Arkansas, regular unleaded rose 4.7 cents in the last week to an average price of $2.97 a gallon.
National prices rose 2.9 cents to an average of $3.30 per gallon.
“The national average closed the week by climbing to yet another fresh seven-year high,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The price of oil continues to drag gas prices along for the wild ride, leaving motorists on empty.”
He added that OPEC’s decision to hold back oil production would pave the way for even higher gas prices in the coming weeks.
“Until several bottlenecks ease, including supply chains and low global inventories of oil, natural gas, and coal, we’ll be stuck feeling the pinch of rising oil and gasoline prices,” he said. “The bad news is that for now, all I see is the upward trend at the pump continuing into the weeks ahead with no sign of relief just yet.”
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