Gasoline prices rise in the United States due to oil price volatility

Gasoline prices have increased in the United States last week After hovering between $3.1 and $3.2 dollars per gallon, until reaching an average price of $3.4 dollars per gallon.

The average increase at the national level is due to the increase in oilWhich could be complicated after two attacks by Ukrainian armed forces on two Russian refineries.

According to reports from European agencies and media such as DW, this is connected with the conflict in the Middle East, which has forced various ships to change routes in the transport of products and fuel.

On the West Coast, gasoline remains at highest pricesLike $4.88 per gallon in California and $4.14 per gallon in Nevada.

Although the increase is less than $0.50 per gallon, the trend is upward and analysts warn of a potential peak that also hits inflation.

Marketplaces indicated that the price of oil (West Texas Intermediate and Brent) rose by approximately 3% on Wednesday this week.

Additionally, WTI continued to rise this Thursday, but global crude oil prices are up about 10% since January.

Although the report makes a connection between the onset of spring and increased vehicle use, it also ties the analysis to the price of oil.

Andrew Gross of the American Automobile Association (AAA) said Concern about the price of gasoline is directly related to what is happening with oil,

“(Oil prices) have crossed the $80 per barrel level (and) we’re going to see a lot of upward pressure on pump prices here nationally,” he said.

Analysts warn that increases in the price of gasoline will have a kind of domino effect on other products and services and, therefore, could affect inflation.

The latest inflation report showed a rise of 0.4% in February.

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