Fuel prices rose last week for the first time in several weeks, but that doesn’t mean gasoline costs are back on the rise for long, The Houston Chronicle reports.
The cost of a gallon of regular unleaded increased 4 cents up to $2.19, while the national average rose about 2 cents to $2.57, according to GasBuddy, which tracks fuel pricing nationwide.
“The streak has been broken: for seven straight weeks we saw the national average drop, but the fun has come to an end as oil prices continue to show strength into the last days of 2019 boosting the national average this past week,” says Patrick DeHaan, head of petroleum analysis for GasBuddy.
Fuel prices usually drop during winter because of cheaper fuels and weaker demand. With the U.S. benchmark for crude oil hovering just above $62 a barrel this morning, oil prices are at their highest levels since the spike in September caused by missile attacks in Saudi Arabia.
Recent declines in U.S. petroleum inventories have given both oil and fuel prices a boost up. Read the full story.
