Gas prices continue to rise in metro Detroit with higher demand

Gas prices continue to rise in metro Detroit with higher demand

Gas prices continue to rise in metro Detroit with higher demand

The latest Energy Information Administration (EIA) report showed US commercial crude inventories increased by 2.4 million barrels last week and over the past two weeks, storage levels have swelled by 5 million barrels.

In Tampa, prices remained even lower at $2.41 a gallon, down 7.0 cents per gallon from last week's $2.48 a gallon.

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AAA Michigan surveys daily fuel prices at 2,800 gas stations across the state.

As more seasonal maintenance begins at US refineries over the next few weeks, utilization rates will decline and gasoline production will slip as well. But GasBuddy surveys indicate local prices at the pump are still up 21.1 cents per gallon compared with the same time a year ago. According to GasBuddy historical data, gasoline prices on March 12 in Sacramento have ranged widely over the last five years: $2.87/g in 2017, $2.38/g in 2016, $3.28/g in 2015, $3.75/g in 2014 and $4.04/g in 2013. Oakland- $3.38/g, up 3.6 cents per gallon from last week's $3.35/g. Some areas could see $3 gasoline.

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"Oil prices remain volatile yet several dollars off recent highs", said Patrick DeHaan, head of petroleum analysis for GasBuddy. "Pump prices are sliding right now because crude and gasoline output have remained strong". But prices by Monday had fallen and over the noon hour the price of the best grade of USA oil was down more than $1 to $60.93 cents.

The average price of a gallon of regular-grade gasoline remained steady over the past two weeks, at $2.59.

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"Thus far, we have seen a market that's lacked solid upward movement when it usually sees exactly that", he said.

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