Gas Prices Could Soar Past Last Year's Rates Amid Refining Woes Gasoline prices in the U.S. are undergoing significant increases due to recent constraints on refinery operations and rising oil prices. As of Monday, the national average price for a gallon of gas was $3.35, marking a $0.09 increase from the previous week, yet it remains $0.05 cheaper than this time last year, according to AAA. The challenges facing U.S. refineries include severe weather conditions and power outages at critical facilities. Tom Kloza, the global head of energy analysis at OPIS, informed Yahoo Finance that these disruptions could soon push retail gas prices above those recorded a year ago. This situation highlights the fragile balance in the gasoline market, where supply disruptions and fluctuating oil prices can quickly lead to higher costs for consumers. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold Faces a Lackluster January with a Close Eye on the Fed READ MORE Thailand Pension Fund Bets on Gold and Commodities to Offset Weak Stocks READ MORE ING Gold Monthly: The Bull Run Isn't Over Yet READ MORE Fed's Powell: More Evidence Needed Before Rate Cut Considerations READ MORE Oil Prices Steady Near Two-Month High on Significant U.S. Crude Drawdown READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment