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Gas Prices Up Almost 27-cents in One Week

By Peter Neumann

Gas Prices Up Almost 27-cents in One Week

July 15, 2013

DETROIT, Mi. (My TV20 News at 10) --- Average retail gasoline prices in Detroit have risen 26.9 cents per gallon in the past week.

They averaged $3.81/g Sunday, according to GasBuddy's daily survey of 1,734 gas outlets in Detroit.

This compares with the national average that has increased 11.7 cents per gallon in the last week to $3.62/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Detroit during the past week, prices yesterday were 25.3 cents per gallon higher than the same day one year ago and are 10.0 cents per gallon lower than a month ago. The national average has increased 0.4 cents per gallon during the last month and stands 19.5 cents per gallon higher than this day one year ago.

"Nationally, gasoline prices have begun moving upward yet again. I suspect that the unrest in Egypt is playing a significant role in pushing crude values higher, and thus retail gasoline prices higher as well," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

"The market is seemingly quite sensitive to the situation in Egypt as the Energy Information Administration has reported two consecutive weeks of large declines in crude oil inventories, drawing concern that a loss in Middle Eastern crude would mean continued declines in inventories stateside," DeHaan said.

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