Expert says relief at the pump not expected soon

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Expert says relief at the pump not expected soon
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The national average for regular gasoline is nearly $3.76 a gallon, according to AAA.

PUBLISHED 4:15 PM EDT Jul. 31, 2023Gas prices are on the rise nationwide, hitting an eight-month high as much of the country deals with scorching temperatures. On Monday, the national average for regular gasoline was nearly $3.76 a gallon, The average price at the pump rose 13 cents in a week when it hit $3.71 on Thursday last week; that price marked the highest average since Nov. 2022

“We've seen gas prices advancing at their fastest pace of the year,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in an interview with Spectrum News on Monday. “We've seen heat related outages at some of the largest refineries in the country in the last couple of weeks in Texas and Louisiana at a time that gasoline demand is at its highest and gasoline inventories are at their lowest July levels since 2015,” he said. , De Haan told Spectrum News in an interview last week.when the average price for a gallon of gas topped $5 in June 2022.

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