Ouch! Gas prices in Cambria soar past the $4 mark

Ouch! Gas prices in Cambria soar past the $4 mark

Ouch! Gas prices in Cambria soar past the $4 mark

W.D. Williams with AAA Auto Club says there are several reasons for the increase of gas prices.

"That same barrel this time past year could've been bought for about 49 dollars", Right points out.

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That's up 3.1 cents from last week. Woodward now averages about $2.60 per gallon. Kloza, the Oil Price Information Service global head of energy, claims that "The bulls aren't just in charge, they've got a hammerlock on this market", suggesting that the price of crude could rise as high as $100 a barrel, according to CNBC. Even by vehicle, it's going to cost you more as gas prices are expected to be the highest we've had in three years.

Gasoline prices, which generally follow oil prices, have jumped to a national average of $2.81 a gallon, according to AAA. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. According to GasBuddy, gas stations in 25 cities are selling gas for 70 cents a gallon more than at this time past year. In the summer of 2014, the average price rose above $3 a gallon, just before OPEC increased production in an unsuccessful effort to drive USA shale producers out of business. That had led to gas prices being down the past couple of years.

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The AAA analysis shows motorists in 19 states are now paying above the national average for fuel, with nine states seeing average gas prices above the $3 a gallon mark. Analysts think chances of that record being broken anytime soon are slim.

"U.S. supplies are down a little", Williams said.

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