‘A Lot Of Upward Pressure’: Here’s Why Gas Prices Are Soaring Again
View Source | January 26, 2023 2:00 am
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- “The recent rising temperatures led to rising pump prices,” AAA spokesman Andrew Gross remarked. “And with the cost of oil hitting $80 a barrel, there is a lot of upward pressure on gas prices at the moment.”
- West Texas Intermediate, the American benchmark for crude oil, was nearly $73.00 per barrel toward the beginning of the month; the metric surpassed $80.00 per barrel on Wednesday.
- Brent Crude, the European benchmark, increased from $77.00 per barrel to more than $86.00 per barrel over the same time horizon.
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