CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline jumped 8 cents over the past two weeks, to $3.10 per gallon.
Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the increase is attributed to supply disruption from the 10-day shutdown of the Colonial Pipeline following a cyberattack, and a rise in prices for corn, a key ingredient in corn-based ethanol that must be blended by refiners into gasoline.
The price at the pump is $1.05 higher than it was a year ago.
The highest average price in the nation right now is $4.23 a gallon in the San Francisco Bay Area. The lowest average is $2.53 in Houston.
Here in Michigan, according to GasBuddy, in the Lansing area gas prices have fallen 2.6 cents per gallon in the past week, averaging $2.83/g.
Neighboring areas and their current gas prices include:
Ann Arbor- $2.96/g, down 2.5 cents per gallon from last week’s $2.98/g.
Flint- $2.90/g, down 1.3 cents per gallon from last week’s $2.91/g.
Grand Rapids- $2.81/g, down 3.8 cents per gallon from last week’s $2.85/g.
“In the lead up to Memorial Day, we haven’t seen gas prices come down much, though with oil’s recent move lower, we should start to see more drops at the pump materialize in the days ahead,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With the Colonial Pipeline situation continuing to improve in Southeastern states, fueling up for the holiday weekend shouldn’t be too challenging, save for a few pockets in GA, NC and SC, where outages remain a bit higher than neighboring states. For those hitting the road, we should see prices inch lower in the coming week through at least Memorial Day, so motorists need not rush to fill their tanks as the drop in oil prices should manifest into lower gas prices as we begin the summer driving season.”