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Gasoline Prices Push Toward $4 Per Gallon

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.

© 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 This material may not be published, broadcast, or rewritten without permission.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 by using one of the social media links below.

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