Gas prices rose by just two cents this week even as oil prices dropped. (iStock)
Gas prices went up and down this week, but averaged two cents higher overall, AAA said in their weekly gas prices report.
The national average price for the week was $3.67 per gallon, 14 cents higher than this time last month and eight cents more than last year. This increase occurred even though demand didn’t grow by much and oil prices fell.
“From a demand perspective, we have entered the pre-Memorial Day funk,” Andrew Gross, AAA spokesperson said.
“And the cost of a barrel of oil is nearly $10 less than two weeks ago, as oil prices have fallen into the upper $70s. This may keep pump prices somewhat flat for the immediate future,” Gross said.
Gas demand rose during the week from 8.42 million barrels per day to 8.62 million barrels per day, data from the Energy Information Administration…
