Gas prices creeping toward $4 per gallon on fifth straight week of gains
By Jeremy Beaman, Energy and Environment Reporter
January 31, 2023 03:00 AM
Gasoline prices are creeping back up and may soon average $4 per gallon, requiring drivers to start putting in more for fuel after having enjoyed falling prices for much of the second half of 2022.
The national average price of retail gasoline rose for the fifth straight week Sunday, according to data compiled by GasBuddy, with higher oil prices and lower refinery utilization being driving factors. The national average is up to $3.49 per gallon, a 33.3-cent rise from a month ago.
Oil has seen fairly consistent gains over the same period, and refineries have been operating at 86.1% of capacity or below since Winter Storm Elliot struck during the week of Christmas, according to the Energy Information Administration.
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