Average retail gasoline prices in Minnesota have risen 2.9 cents per gallon in the past week, averaging $2.51 per gallon Sunday, according to GasBuddy's daily survey of 2,856 gas outlets in Minnesota.
As recently as April 9, GasBuddy senior petroleum analyst Patrick DeHaan said: "As markets have seen concern rise of a possible trade war between the US and China, oil prices have been hit hard, leading gas prices to dramatically slow their recent ascent".
EIA data also shows that domestic crude production in the USA hit a new record high of 10.53 million b/d on in early April. Although Syria is not a major oil producer, AAA says tension in the country could ripple to other countries in the region and restrict global oil supply flows.
According to AAA, the most expensive gas price averages in Georgia Monday were in Atlanta ($2.67), Brunswick ($2.66) and Savannah ($2.66), while the least expensive prices were in Augusta-Aiken ($2.54), Catoosa-Dade-Walker ($2.54) and Warner Robins ($2.55).
For perspective, crude oil was hovering around $48 a barrel back in September 2015.
It's not just the Syria situation that has caused prices to soar.
Meanwhile, the Energy Information Agency is reporting that crude oil production in the lower 48 states broke more records last week, topping 10 million barrels per day for the first time in recorded history.
Seasonal factors in the USA also are in play now, said Patrick DeHaan, head of petroleum analysis for GasBuddy. And California's relatively healthy economy has prompted Golden State residents to hit the road well before the traditional summer driving season. "If demand stays strong, the price of fuel is likely to keep rising". That was a byproduct of Senate Bill 1 signed into law earlier in 2017 by Gov.
Get ready to pay more to fill up your tank.
Patrick DeHaan, the head of petroleum analysis for GasBuddy, said gas prices have peaked in mid-May the past few years as refineries finish the transition to a more-expensive summer blend. However, we're likely in the closing innings of the seasonal rise - let's just hope we don't go to extra innings.
Regardless of the recent rise in prices, we're still no where near what we were paying in 2013 and 2014, where the average price of gas hovered around the $3.55 a gallon mark.