Number Of Reasons Cited For Increasing Gasoline Prices

But AAA says the cost of filling is expected to go down.


Towson, Md (KM). Motorists have been paying a little bit more at the pump this fall season. AAA Mid-Atlantic says prices went up after Hurricanes Harvey and Irma hit the Gulf Coast. But they started to decline once refining capacity got back on line. “Unfortunately, after prices had started to decline following the hurricanes and once refineries got back on line, it seems like now motorists are seeing an uptick at the pump,” says AAA spokeswoman Christine Delise.

She says there a number of reasons, some are international in nature. “Currently, the commodity is trading at a 6-month high. A lot of that has to do with OPEC, likely to continuing their production cutting agreement. And we’re also seeing a lot of unstability {SIC} in oil rich Kurdish region of Iraq,” says Delise.

As of Friday, October 27th, AAA says the price of West Texas Intermediate Crude oil traded at $53.90 per barrel, an increase of $1.26 from the previous day’s closings.

But Delise says there are other reasons, such as tighter gasoline supplies in the Mid-Atlantic Region. “And a lot of that had to do with exports to the south and southeast region after the hurricane. And we’re also seeing exports abroad as well,” she says.

And the unusually warm autumn has encouraged more motorists to take more road trips, says Delise.

But eventually, she says, the price of gasoline will come down when the temperatures go down, and drivers are taking fewer road trips.

As of Monday, October 30th, AAA reports the average price of a gallon of gasoline in Maryland was $2.42, which is a 4-cent increase from last week. In Frederick, the average price is $2.44 per gallon, a jump of 7-cents from last week.


By Kevin McManus