Trump's decision on Iran nuclear deal could affect gas prices

08 May, 2018, 01:08 | Author: Kim Reid
  • Pain at the pump: Average price of gasoline nears $3 per gallon

AAA reports the national average for a gallon of gas on Monday was $2.813.

GasBuddy analyzed gas price data from the period of January through March 2018 and found that the first day of the work week offers the lowest average gas price in 21 states, making it the best day to fill-up.

Their national averages are up by about 40 cents compared to past year, right now the average is $2.81 per gallon. The highest was about $2.91 per gallon in the Ann Arbor area.

North Dakota's state average is at $2.70 with prices steadily increasing the more you go west. A year ago at this time, the average price in MA was 47 cents lower at $2.29.

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Gas prices around the country have creeped up, mostly due to continuing efforts to switchover stocks to the more expensive summer blend to meet federal mandates by June 1.

Gasoline prices in MA are up one cent this week, according to AAA Northeast.

Motorists can always find current gas prices along their route with the free AAA mobile app for iPhone, iPad and Android.

$2.49/g in 2017, $2.35/g in 2016, $2.80/g in 2015, $3.93/g in 2014 and $3.71/g in 2013.

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In Connecticut, gas averages $2.95 a gallon in Greater Hartford, up from $2.71 a month ago and $2.48 a year ago.

"Killing the deal may inflict more pain on motorists, as it may lead to sanctions placed on Iran and their oil production, which would likely push oil prices higher", Patrick DeHaan, head of petroleum analysis for GasBuddy, said Monday in a note.

"In the coming weeks, political tension in the Middle East over a possible renegotiation of Iran's nuclear deal could create some uncertainty in the global crude oil market, and domestic fuel demand could resume its frenetic pace soon", Conde said.

The city of Lawrenceville has the lowest prices in Gwinnett with consumers paying $2.47 and $2.49 a gallon at stations along U.S. Highway 29. Much will depend on his decision on this subject.

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