Are the days of cheap gasoline coming to an end? The average price for regular gasoline stood at $2.041 a gallon on Tuesday, according to AAA’s Daily Fuel Gauge Report - the highest so far in 2016. Prices have risen for 22 consecutive days and are up 30 cents a gallon for the month.
One reason for the upsurge: Demand for gasoline continues to grow. Last week’s report showed a 7 percent jump in gasoline product supplied over the last four weeks, to about 9.4 million barrels a day.
Taking a look at the bigger picture, however, the national average regular gasoline price is still pretty cheap compared with a year ago. At this time last year, gas was selling for about 38 cents a gallon more than it is now.