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Mild weather blamed for recent uptick in gas prices

Gasoline Prices
Posted at 10:05 AM, Jan 27, 2023
and last updated 2023-01-27 10:05:30-05

The average price for a gallon of gas has increased 40 cents in the last month in the U.S., according to AAA.

On Friday, gas averaged $3.50 a gallon, which is up from $3.10 a month ago. The average price of gas is up 11 cents in the last week.

Generally, January is a month for cheaper gas as winter weather lowers demand. Also, winter is when gas stations are stocked with a cheaper blend of gas.

AAA noted that mild winter weather throughout the U.S. has caused an increase in demand, which pushes prices up. Oil prices are also expected to remain elevated as China reopens travel.

“The recent rising temperatures led to rising pump prices,” said Andrew Gross, AAA spokesperson, “And with the cost of oil hitting $80 a barrel, there is a lot of upward pressure on gas prices at the moment.”

Gas prices dropped dramatically in the last half of 2022, decreasing from a record high of $5.02 a gallon in the summer.