Gas prices rise 7 cents

Gas prices rise 7 cents

Crude oil prices were back up to start the new week, rising over $71 per barrel Monday morning. AAA Mid-Atlantic is taking a wait-and-see attitude.

AAA says average gas prices statewide have risen about 7 cents in the past week.

Traverse City had the lowest average gas price at $2.85 per gallon, while Ann Arbor's $2.97 was the highest.

Gas prices saw one of the largest weekly increases since Hurricane Harvey in the last week as oil prices continued to surge, leading to sharply higher prices at the pump, putting the U.S.in peril of striking the $3/gallon level for the first time since 2014.

He added crude prices could remain stable if Saudi Arabia and the United Arab Emirates make good on pledges to make up for any potential shortfalls. In Maine, prices have risen 4.2 cents per gallon to an average price of $2.86. That's 20 cents in the last month, according to AAA. "The latest round of figures from the Energy Information Administration show that gasoline demand is significantly higher than this time previous year".


That means access to their oil fields is cut off.

"However, it may be weeks before motorists see the full effects of the US pulling out of the Iran Nuclear Agreement and reimposing sanctions", said Tammy Arnette, senior public affairs specialist for AAA Mid-Atlantic.

The West Palm Beach-Boca Raton market easily had the most expensive gas in Florida with prices averaging $2.92 per gallon. A week ago, that sat at $2.61.

Knoxville- $2.63, up 9.9 cents per gallon from last week's $2.53.

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