Why are gas prices so high?


Nationwide prices have gotten even higher.

2 Wants To Know got this email from Joseph saying,"How come gas prices have gone up almost 50c a gallon since Christmas?" Crude oil is now at it's highest price in three years, around $70 per barrel.

According to a study conducted by GasBuddy, "Gasoline prices are at their highest levels since 2014 and will continue to rise through Memorial Day".

As of this week, the average pump price for regular gasoline here in Billings is $2.66/gallon.

The price increase in Kingston comes as analysts had been predicting no change in the price at the pumps Wednesday for other markets in the province.

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California has the most expensive gas in the nation, averaging $3.60 per gallon, and Hawaii is second ($3.53), according to gasbuddy.com. In addition, smaller issues driving prices up include refinery maintenance season, which is beginning to wrap up, and the switch-over to summer gasoline, which is also nearing completion.

"Motorist have been spoiled the past few years with inexpensive gas prices", said Jeanette Casselano, AAA spokesperson. Now AAA Texas reports El Paso and Midland have the highest gas prices in the Lone Star State.

Have we really been spending 50 cents more per gallon of gas lately?!?!?! "It's not something we would see most of summer, but could happen in the next couple of weeks". This is the highest prices have been since 2014. At the same time, production cutbacks initiated by OPEC previous year have helped whittle down oil supplies.

DeHaan says the price rise is squarely on the worldwide price of oil.

Pennsylvania has the highest price per gallon in the tri-state area with $3.02. "We're nearing a turning point in the USA - gas prices are perhaps just a dime away from hitting a peak for the short-term".