(KNSI) — Gas prices in St. Cloud went up five cents overnight and have jumped almost 20 cents in the last week, according to the latest report from AAA.
“When the cost of crude oil crosses the $80 a barrel mark, that puts a lot of upward pressure on what we pay at the pump,” said Andrew Gross, AAA spokesperson, “and as long as oil costs remain at the current level, drivers will likely see incremental price increases for now.”
As of Friday morning, the average price for a gallon of regular unleaded in St. Cloud is $3.60. Thursday, it was $3.55. Monday, $3.43. Last month at this time, it was $3.25. The statewide average is $3.58.
According to new data from the Energy Information Administration, gas demand decreased from 9.3 to 8.94 million barrels per day last week. Meanwhile, total domestic gasoline stocks dropped slightly by 400,000 barrels daily to 222.2 million. Lower demand would typically push pump prices down; instead, elevated oil prices have pushed them higher.
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