Gasoline prices have begun to tick up again, although only slightly. It may be only a coincidence that oil prices are rising too. The price for a gallon of regular nationwide was $3.406 yesterday, compared with $3.396 the day before and $3.381 a week ago, according to AAA. The increase does not make much sense.
It is too early for gas prices to be affected by higher oil prices, which have not reached refineries yet. And inventory in the United States has been high recently. It could be that Americans are driving more now that gas prices have tumbled from just shy of $4. Or, stations may have tried to hold prices around $3.40 to maintain margins. Whatever the reason, the drop in gas prices is over for the time being.
Douglas A. McIntyre