COLDWATER, MI (WTVB) – For the first time since late 2014, the price of gas went above $3 a gallon in Branch County Monday.
The price spiked at several stations to $3.09 a gallon by late afternoon. Prices at other stations held firm with the lowest price in Coldwater at $2.83. It remains to be seen if there will be any more spikes at other stations over the next day or two.
The entire country has seen gas prices rise in the last week to a national average of $2.87 a gallon after the price of crude oil hit $71 a barrel which is the highest price for crude since 2014.
Analyst Patrick DeHaan of www.gasbuddy.com says some of the factors in the rising prices included President Trump’s decision to withdraw the U.S. from the Iran nuclear deal and dropping oil supplies as U.S. exports have surpassed Venezuela.
Experts fear crude prices may continue to rise as will gas prices but this weeks increase is not expected to be as much. Of course the rising prices will mean more pain at the pump just as the summer driving season is getting underway.
The average gas price in Michigan is $2.93 a gallon which is up seven cents from last week and 52 cents from a year ago.
