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Vegas gas prices up 7 cents in week as seasonal surge at pumps 'in full motion'

MGN Online

As gas prices continue a traditional spring rise, a petroleum analyst says the surge could be nearing an end -- perhaps.

Average retail gasoline prices in Las Vegas rose 7.1 cents a gallon in the past week, averaging $3.11 on Sunday, according to GasBuddy's daily survey of 649 gas outlets in Las Vegas.

Statewide, the average price is $3.10 a gallon, up 3.3 cents from last week.

Nationally, prices increased 5.2 cents a gallon in the last week to $2.71.

Prices Sunday were 44.7 cents a gallon higher than the same day one year ago and 30.8 cents a gallon higher than a month ago.

The national average has increased 17.7 cents a gallon during the last month and stands 30.1 cents a gallon higher than one year ago.

"The seasonal surge at gas pumps is in full motion, causing the most dreaded time of year for fearful motorists, especially of what may still be coming," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "With the national average gas price now at its highest since July 26, 2015, I can't immediately allay all fears of a continued spike in gas prices, however, we're likely in the closing innings of the seasonal rise- let's just hope we don't go to extra innings.

"In the past few years, the average date that gas prices have peaked is mid-May, which is just around the corner, and by all metrics, that could be very close to what we expect this time around. Refinery maintenance has gone well thus far, and gasoline supply has continued to push higher as more refiners conclude their work. With the transition to summer gasoline also wrapping up, the reasons gas prices to rise will shrink."

For live fuel price averages, visit http://FuelInsights.GasBuddy.com.

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