Gas prices are continuing to climb and could get “rather ugly” in the coming weeks, according to GasBuddy.com.
In the Harrisburg area, prices have increased 6.3 cents a gallon in the past week for an average price of $3.72 a gallon today.
According to GasBuddy, gas prices in central Pa. are 22.3 cents a gallon higher than a month ago and 87.6 cents higher than a year ago.
The national average price of gas has increased 3 cents a gallon in the last week, averaging $3.51 a gallon today.
“With tensions still very high that Russia may invade Ukraine, gasoline prices kept moving higher, tugged by the rising price of oil as the market concentrates on possible outcomes from the situation that could affect global oil production amidst recovering demand,” said Patrick De Haan, head of petroleum analysis for GasBuddy.
“However, with nuclear talks between Iran and global powers ongoing in Vienna, the possibility exists that a new deal could bring Iran’s crude oil supply back to legitimate markets, helping to ease a slight portion of supply concerns.
While the proposition remains in the air for the time being, we’re also just a few weeks away from the traditional start of the spring surge in gasoline prices, brought on by the change to summer gasoline, seasonal maintenance at refineries and rising demand. The weeks ahead could be rather ugly with rising prices, especially if Russia pursues a strong-arm invasion of Ukraine.”
AAA said on Thursday that “elevated” crude oil prices are continuing to push gas prices higher.
“Although crude prices slipped today due to increased market expectations that more oil could enter the global market if the U.S. and Iran complete a new nuclear agreement, and sanctions are lifted, the tension between Russia and Ukraine contributed to rising oil prices earlier in the week.
Russia is a member of OPEC+, and any sanctions based on their actions toward Ukraine may cause it to withhold crude oil from the global market,” according to AAA.
The lowest price for gas in the Harrisburg area today is $3.48 a gallon at Sam’s Club in Swatara Twp. and Costco in Lower Paxton Twp.
The lowest price in Pennsylvania is $3.25 a gallon in Emlenton, Venago County.
