Average US price of gas up 14 cents a gallon to $2.64

Fueling Up Feb 15 2021 In Crawford County Kan
Photo taken on Feb. 15, 2021 in Crawford County, Kan.

 

The average U.S. price of regular-grade gasoline jumped 14 cents a gallon over the past two weeks to $2.64.

Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that gas prices will likely continue to rise as crude oil costs remain high.

The price at the pump has climbed 46 cents since Nov. 20.

The highest average price in the nation is $3.57 a gallon in the San Francisco Bay Area. The lowest average is $2.20 in Baton Rouge, Louisiana.

The average price of diesel went up 10 cents over the same period to $2.85.

4-State Averages for Regular (GasBuddy)

  • Missouri: $2.389
    • Up 14.5 cents from last week’s average
  • Kansas: $2.432
    • Up 10.2 cents from last week’s average
  • Oklahoma: $2.346
    • Up 10.7 cents from last week’s average
  • Arkansas: $2.364
    • Up 9.8 cents from last week’s average

“With last week’s extreme cold shutting down millions of barrels per day in refinery capacity, gas prices have seen their largest weekly climb in quite some time,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

“The jump in price was the result of a dozen or so refineries, primarily in Texas, that were forced to shut down as the frigid temperatures threatened to wreak havoc on their exposed equipment. With the cold weather behind us, price increases show begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks. However, as we near spring weather, we’ll likely see another longer term rise in prices begin as refineries start to transition to summer gasoline, so motorists shouldn’t jump for joy just yet.”

GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.