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Gas Prices Continue to Surge in the US

Gas Prices continue to surge across the nation at a 7-year high, leaving only eight states with prices under $3 per gallon. The average Gas Prices across the nation stands at about $3.25 per gallon after jumping from 5.2 cents a week ago.

GasBuddy showed that the prices are up 7.5 cents compared to a month ago and up more than $1 from a year ago. The company collected data from nearly 150,000 gas stations. The price of diesel is up more than 10 cents compared to last week and stands at $3.45 per gallon.

Patrick de Haan, head of petroleum analysis said that the Oil prices rose to their highest level in seven years last week with the prices of West Texas Intermediate crude oil surpassing $80 per barrel. The nation’s Gas Prices also surged since 2014 all on OPEC’s decision not to raise production more than it already agreed to in July.

De Haan tweeted that the most common Gas Prices encountered in the nation is $3.09 per gallon. Previously $2.99 held the title for nearly all of the late spring and summer. The eight states that were considered were Oklahoma, Mississippi, Texas, Arkansas, Louisiana, Kansas, Alabama and Missouri.That decision caused an immediate reaction in oil prices, and amidst what is turning into a global energy crunch, motorists are now spending over $400 million more on gasoline every single day than they were just a year ago.

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