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Motorists in the Capital Region are experiencing an increase in fuel costs, according to AAA. The average price for a gallon of gas has risen to $3.19, marking a five-cent increase over the past week and a 13-cent rise from a month ago. The state average currently stands at $3.17, while the national average is slightly lower at $3.14.
The rise in gas prices comes amid concerns over potential tariffs, which have contributed to the national average ticking up by two cents from last week, as reported by AAA. Despite a slight decrease in some areas, such as Pennsylvania, where prices dipped by 2.6 cents, the overall trend shows an upward movement in fuel costs.
According to AAA East Central, easing oil costs and low domestic demand have helped to slightly lower pump prices nationally. However, gasoline demand has increased from 8.08 million barrels per day to 8.30 million, while gasoline production has decreased, averaging 9.2 million barrels daily.
With crude oil inventories rising by 3.5 million barrels, the U.S. crude oil stock is about six percent below the five-year average for this time of year. As fuel costs continue to fluctuate, motorists are advised to stay informed about price changes and consider fuel-efficient practices to manage expenses.