Get Ready To Pay More For Gas - KMPH FOX 26 | Central San Joaquin Valley News Source

Get Ready To Pay More For Gas

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More people are expected to travel for this 3–day 4th of July weekend.

Drivers can expect to pay a little more to reach their destination because AAA is reporting gas prices are expected to rise to the highest level in six years over the next few days.

Alison Kosik shows us what's behind this gas price increase and how long it could stick around.

High gas prices could put a damper on your Fourth of July celebration.

The national average for a gallon of regular is around $3.67 a gallon.

And prices are expected to hover right around there for the holiday weekend.

If you're keeping track, that's .20 cents a gallon higher than last year at this time and the highest average price since 2008.

What usually happens is gas prices fall in June, but that didn't happen this year, mostly because of the turmoil in Iraq, which is a key supplier of global oil.

But look on the bright side: The national average is nowhere near the all-time high of $4.11 a gallon we hit that back in 2008.

Of course, drivers in some states, like Alaska, California, and Hawaii, are already paying $4 or more a gallon,

But analysts do think that prices should moderate later in the summer as demand goes down.

Two wildcards to watch: prolonged conflict in Iraq could drive prices higher, and as we enter hurricane season, a storm that disrupts production could also drive prices higher.

As far as gas prices here in the Central Valley, AAA says we’re paying an average of $4.09 per gallon, which is about .18 cents more than this time last year.

 

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