Gas Prices Could Soar Past Last Year's Rates Amid Refining Woes Gasoline prices in the U.S. are undergoing significant increases due to recent constraints on refinery operations and rising oil prices. As of Monday, the national average price for a gallon of gas was $3.35, marking a $0.09 increase from the previous week, yet it remains $0.05 cheaper than this time last year, according to AAA. The challenges facing U.S. refineries include severe weather conditions and power outages at critical facilities. Tom Kloza, the global head of energy analysis at OPIS, informed Yahoo Finance that these disruptions could soon push retail gas prices above those recorded a year ago. This situation highlights the fragile balance in the gasoline market, where supply disruptions and fluctuating oil prices can quickly lead to higher costs for consumers. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Banks Under Pressure: Rising Concerns Over Commercial Real Estate Exposures READ MORE Gundlach Skeptical of 'Goldilocks' Economy, Foresees Recession READ MORE Stocks wobble after Powell warns that rate cuts will likely come later than expected READ MORE Despite High Inflation Reports, Fed's Barkin Eyes Future Rate Normalization with Caution READ MORE Warm Winter Weather Dips Oil Prices Despite OPEC+ Cut Extension READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment