Gas Prices Expected To Rise Again Soon, Say Experts

Despite the recent decline in gas prices across the country, experts expect them to rise due to the increase in crude oil prices.

The average gallon of gas in the United States dropped 13 cents in the past two weeks to $2.07 while crude oil prices have increased in the last 10 days, industry analyst Trilby Lundberg said Sunday, according to the Los Angeles Times. The price of gas is 37 percent lower than this time last year.

The Energy Department believes that the average U.S. family will spend $750 less on gas than in 2014 because the average price will decrease from $3.36 to $2.33. However, Lundberg said the increase in crude oil prices will eventually be seen at the pump, the Seattle Times reported.

The decrease in crude oil prices is a result of onshore oil fields in North Dakota, Texas and the increase in U.S. crude oil production over the last six years. Combine this factor with more supplies from Iraq, Canada and other countries and lower crude oil prices result.

San Francisco has the highest-priced gas in the country at $2.54 per gallon, the Seattle Times said. Albuquerque, N.M. stayed the lowest at $1.73 per gallon. The average price per gallon of gas in California is $2.43. The average national price for midgrade gas is $2.31. For premium gas the average is $2.47.

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