dollar sign autoKentucky (4/21/14) — Gasoline prices are trending back toward $4 per gallon just in time for summer driving.

The chart below indicates a strong trend to $4 per gallon; but, diesel prices have already started to decline. Some analysts attribute the increase with the Ukrainian crisis with Russia.

Regular Gasoline Prices 201On-Highway Diesel Fuel Pric

 However, there is no indication that crude oil prices are spearing this increase: Some have speculated that President Obama has secretly pushed or allowed gasoline prices to increase to model after European pricing or to placate environmental supporters. The facts discount this theory. President Obama took office on Jan. 20, 2009 and the average price of a gallon of regular gasoline was $1.83 per gallon. However, this was down from the $4.054 per gallon in January of the previous year.

With oil production in the U.S. increasing and drivers continuing to replace low efficiency cars and trucks with higher efficiency models, any price spike above $4 would appear short lived. One would especially reach this conclusion with the declining price of diesel fuel.

As with all commodities, world and local events will continue to influence energy prices.

Ron Sanders
SurfKY News Group

Sources: United States Energy Information Administration; www.infomine.com.

LIKE SurfKY on Facebook - Click here to LIKE us now.

© Copyright 2015 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story on social media.

Posted on 2/2/14
3/13 - 16
1 DOW 18,080.14
+21.45 (0.12%)    
2 S&P 2,117.69
+4.76 (0.23%)    
3 NASDAQ 5,092.08
+36.02 (0.71%)    
3/13 - 16

Most Read This Week

April 17, 2015 11821

An Open Letter from an Addict

by Olivia Kirks
April 23, 2015 7436

Man Charged with Sodomy, Incest/Victim under 12

by SurfKY News
April 18, 2015 5768

Man Charged with Attempting to Coerce Minor for…

by Madisonville Police Department
April 20, 2015 4858

Nortonville Woman Charged with Meth Possession at…

by Madisonville Police Department
April 24, 2015 4014

UPDATE: Police Can't Substantiate Injured Man…

by Doreen Dennis, SurfKY News

Most Read This Month

April 17, 2015 11821

An Open Letter from an Addict

by Olivia Kirks
April 02, 2015 8796

UPDATE: Madisonville Man Injured in Head-on…

by Doreen Dennis, SurfKY News

Stories Trending Now

April 24, 2015 4014

UPDATE: Police Can't Substantiate Injured Man…

by Doreen Dennis, SurfKY News
April 24, 2015 988

Career Fair Provides Students Information about…

by Tammy Holloway, SurfKY News
April 25, 2015 950

Above and Beyond: Wade Simons

by Gary Gates, SurfKY News
April 24, 2015 945

Madisonville Police Arrest Reports Released -…

by SurfKY News
April 24, 2015 936

Hopkins District Court Fines Handed Down

by Karen McKnight
April 24, 2015 900

Probation and Parole Violators - April 24, 2015

by Gary Gates, SurfKY News
April 23, 2015 881

Regional Eighth Grade Math Contest Held

by Joyce Riggs
April 24, 2015 860

Baptist Health Holds ‘Walk in the Park’ as Part…

by Tammy Holloway, SurfKY News
April 24, 2015 857

Elementary Girls in Good GRACES with Unique…

by Tammy Holloway, SurfKY News
April 24, 2015 820

Muhlenberg District Court Fines Handed Down

by Charles W. Riley II, SurfKY News