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Gas Prices in Lincoln are Up

18 April 2017
Gas Prices in Lincoln are Up

Omaha- $2.35/g, up 1 cent per gallon from last week's $2.34/g.

The Detroit-area's average is about $2.52 per gallon, roughly 3 cents more than last week's average.

West Texas Intermediate crude oil prices have risen 12% from $47.34 per barrel on March 21 to $53.14 per barrel in early trading this morning, fueling much of the rise in gasoline prices. While average prices are far below their five-year average, they remain notably higher than last year.

The national average price stands at its highest mark since September 5, 2015, mainly the result of oil rising $6 more per barrel over the past few weeks along with a decline in inventories and rising tensions in the Middle East, according to Patrick DeHaan, senior petroleum analyst for GasBuddy.

Following a months-long trend, no retailer in Valdosta was offering gas under $2 a gallon, gasbuddy said.

According to GasBuddy, prices in the Tacoma area are almost 60 cents a gallon higher than this time a year ago and almost 3 cents a gallon higher than this time last month. That compared with $2.389 a week ago and $2.29 a month ago.

Drivers around OH have seen gas prices slip a bit lower since last week.

But during the past couple weeks, the global oil price benchmark staged a rally to about $56 a barrel.

According to a report from OPEC, prices are being driven up by increased demand in Asia and the United States. What that means for US motorists is that pump prices are likely to rise as gasoline prices catch up with crude oil prices. At 533.4 million barrels, US crude oil inventories are near the upper limit of the average range for this time of year.