Allen County has lowest gas prices 2 weeks in a row

Gas prices still inching up in northern New England

Gas prices are off to the priciest start in four years, rising about 10 cents a gallon in Florida in 2018.

"It has been anything but a normal January for prices at the pump", said Mark Jenkins, AAA spokesman, in a press release.

The price of gasoline across the US crept up by 1 cent to $2.54 per gallon last month, indicating that the price of gasoline is likely to climb even higher in the months to come according to new report by AAA.

For Virginia, the average price per gallon is now $2.37, which is the 12th lowest in the country, according to AAA.

That said, January trends don't dictate where prices are headed for the remainder of the year.

By a very slim margin, gas prices in the Lima area are the lowest in the region for the second straight week.




The least expensive gas price averages in Georgia were in Warner Robins at $2.38 per gallon, Catoosa-Dade-Walker at $2.39 and Columbus at $2.39.

Floridians saw the largest increase, with gas prices up an average of 9 cents in the Sunshine State.

The EIA predicts that crude oil production will average 10.3 million barrels per day in 2018, which would mark the highest annual average production rate in USA history.

"Since 2014, gas prices decreased as much as 20 cents in the first three weeks of the year". During the next few months, refineries will reduce output as they conduct maintenance on their equipment and switch to summer-blend gasoline.

Prices are up 39 cents on the year in California, 37 cents in IN and 32 cents in MI. The EIA expects domestic production to reach 10.8 million barrels per day in 2019 and surpass 11 million barrels per day in November 2019. This growth potentially stalls efforts by OPEC and major crude producers to rebalance the market (by cutting production through the end of 2018).

Today, motorists can find gas for $2.50 or less at 58% of gas stations nationwide, AAA reported. Last year, Russian Federation reached a 30-year high average production rate of 10.98 barrels per day, AAA said.

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