Gasoline prices have headed back up, leaving February’s $1.50 a gallon — and less — in the rearview mirror.
Kansas City’s average price Tuesday was $1.67 for a gallon of regular unleaded, according to GasBuddy.com, up from $1.56 on Monday and $1.39 just a week ago. Oil prices have risen and gasoline prices has followed.
“The days of $30 crude oil may be over,” said Mike Right, spokesman for AAA in Missouri. “It’s around $33 a barrel, and that’s a 10 percent increase in a short time.”
And gasoline prices are likely to keep rising this month as refineries switch over to summer gasoline blends.
“Gasoline prices are typically highest in May or June, stable in summer, and head back down in the fall,” Right said.
But an oversupply of oil and ample supplies of gasoline are expected to persist. And as long as they do, oil and gas prices will stay relatively low.
So although prices are in their usual seasonal uptrend, consumers are in better shape at the gas pump than they have been in years.
“Nationally the average is around $1.75 right now,” said Right, “and it was $2.25 a year ago, above $3 at this time in 2014 and above $3.75 in 2013.”