Gas prices have spiked recently, but increases have slowed and may continue to lessen, according to AAA.
As of Thursday, the national average gas price was 29 cents higher than a month ago and 11 cents higher since last week, per a release from AAA. Prices have gone up mostly due to oil price, which has recently “softened.” Recent heat also played a part.
The average price in Montgomery County is $3.875 per gallon as of Friday, according to AAA..
The average price in Maryland is $3.791 per gallon as of Friday, compared to $3.717 one week ago and $3.506 one month ago.
Extreme heat last month contributed to the spike “due to some refineries pulling back,” according to spokesperson Andrew Gross in Thursday’s statement. Operations are now going back to normal.
“Coupled with tepid demand and declining oil prices, this may help take the steam out of the tight supply price jolts we’ve seen lately.”
Nationally, the average gas price is $3.831 per gallon as of Friday, compared to $3.732 one week ago and $3.529 one month ago.
The highest recorded average gas price nationally and in Maryland was June 14 of last year. The average cost per gallon in Montgomery County rose to $5.11. Nationally, it rose to $5.016 and statewide, it increased to $5.020.
