Syria strikes could mean 15-cent rise in gas prices, analysts say

Syria strikes could mean 15-cent rise in gas prices, analysts say

Syria strikes could mean 15-cent rise in gas prices, analysts say

Gas Buddy historical data reveals that Long Island gas prices since 2008 have fluctuated greatly over the past 10 years, with a recorded high of $4.33 per gallon in 2008 and recorded low of $1.79 back in 2009. 49 of the nation's 50 states saw average prices higher versus last week, with the lone exception DE, which fell 0.7 cents.

A new report from the U.S. Energy Information Administration (EIA) says the average cost of a gallon of regular unleaded gas will hit $2.74 a gallon this summer.

The temporary freeze on gasoline prices has melted away with the national average rising 6 cents per gallon in the last week to $2.71 per gallon Monday, according to GasBuddy's latest weekly survey of 135,000 gas stations.

Both of those averages are about 20 cents higher than at the same time a year ago.

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States with the lowest average gasoline prices: Missouri ($2.42), Oklahoma ($2.43), Arkansas ($2.43), MS ($2.45), SC ($2.46), Louisiana ($2.47), Kansas ($2.48), Texas ($2.48), Alabama ($2.49) and Wyoming ($2.50). The Crrestview-Fort Walton Beach metro area was highest at $2.80. AAA said crude is climbing due to the potential of USA sanctions against Syria's sponsors, Russian Federation and Iran. Syria itself has not exported oil since civil war broke out in 2011.

Fuel prices remain vulnerable to conflict in the Middle East because global supplies are tightening.

"The rest of the country is adjusting to those higher wholesale prices and we just haven't gotten there yet", Jenkins said.

Seasonal factors in the USA also are in play now, said Patrick DeHaan, head of petroleum analysis for GasBuddy.

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Patrick DeHaan, head of petroleum analysis for gas price comparison site GasBuddy.com, said that's the highest national average price since July 2015.

"That could be very close to what we expect this time around", DeHaan said.

DeHaan said refinery maintenance has gone well so far, gasoline supply has continued to increase and the transition to summer gasoline supplies is nearly finished.

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