Gas Prices Increase Along With Crude Oil Prices
TULSA, Oklahoma - If you have to fill up Tuesday morning, you'll be paying a little more than this time Monday. There's been a 10 cent jump at some places. GasBuddy experts say crude oil prices are at the highest price since Hurricane Harvey which shut down a third of the nation's refineries back in September.
There is pressure for prices to stay high because crude oil inventories are at the lowest level in nearly three years while U.S. oil exports are at a near record level.
The good news for Oklahomans prices here are still some of the lowest in the nation - at around $2.38 a gallon. South Carolina is the lowest at $2.33.
Hawaii is where you'll pay the most for gas.
Experts say there may be another jump in gas prices in many states due to pressures from high crude oil prices.
Compared to the first few weeks of January last year, consumer gasoline demand is noticeably higher, which is surprising giving the frigid winter much of the country has experienced this month,” said Jeanette Casselano of AAA.
“But demand isn’t the only factor driving prices up. Crude oil has been selling at very expensive rates the past few months. Those higher market prices are now trickling over to consumers at the pump.”
Crude production in the U.S. is inching closer to a new record which most market analysts expect the U.S. to hit sometime this year, according to AAA.