More pain at the pump: Gas prices continue to climb statewide

More pain at the pump: Gas prices continue to climb statewide

AAA Michigan says average gas prices statewide have risen about 7 cents in the past week.

The result is gas that is 57-cents per gallon more expensive this year than last.

Oil prices are at four-year highs - raising the price of producing gasoline.

Analysts say prices are rocketing higher throughout the US because of reductions in domestic supply and the oil market's response to President Trump's decision to leave the Iran Nuclear Deal.

Will re-imposing economic sanctions on Iran after our exit from the nuke deal make gas prices here skyrocket?

If that prediction holds true it would be a almost five percent more than past year and the most since 2005, according to AAA.

Nationally, gas prices have risen a little over 5 cents per gallon, with an average of $2.86/gallon.

That means access to their oil fields is cut off.

The national average is $2.86 per gallon.

According to GasBuddy, states where prices moved most last week were: OH (up 15 cents); DE (up 11 cents); Michigan, Florida and Wyoming (up 10 cents); and Minnesota, Kentucky, Missouri and West Virginia (up nine cents).

AAA says gasoline inventories in the Great Lakes and other parts of the central USA have declined steadily for eight weeks.

Arizona is poised to join the $3/gal club as it stands at $2.99 Monday, while NY sits nearby at $2.98.

In the Pittsburgh area, the per gallon price remained at $3.07, according to GasBuddy's survey of 731 gas outlets.

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