Analyst: Gas prices rise to highest level in 2 months on higher oil prices
Gas prices have risen to their highest level in nearly two months, mainly following higher oil prices, said Patrick DeHaan, head of petroleum analysis for GasBuddy.
“Gasoline demand remains seasonally weak, but last week’s report from the Energy Information Administration showed refinery utilization plunging, meaning less gasoline is flowing out of refiners,” DeHaan said.
“In addition, bullish data and optimism on a U.S.-China trade deal helped propel markets last week, as well as turmoil in Venezuela making a strong case for a larger absence of heavy crudes the market depends on,” he said.
In Pittsburgh, gasoline prices rose 5.8 cents per gallon in the past week, to an average of $2.55, according to GasBuddy’s daily survey of 731 stations. That’s 9.8 cents per gallon higher than a month ago, and 29.7 cents per gallon lower than a year ago.
The national average went up 3 cents per gallon to $2.31. That’s 6.8 cents per gallon higher than a month ago, and 19.6 cents per gallon lower than a year ago.
Brian C. Rittmeyer is a Tribune-Review staff writer. You can contact Brian at 724-226-4701, [email protected] or via Twitter .