Gas prices rise in Las Vegas

Gas prices rise in Las Vegas

Gas prices rise in Las Vegas

On Monday, prices were at $2.79 per gallon, 10 cents lower than the state average, which went up almost 4 cents per gallon over the same span, according to GasBuddy's daily survey of 5,269 gas outlets in Pennsylvania. The highest was about $2.76 per gallon in the Traverse City area.

Today's national average price for regular unleaded gasoline is $2.67 per gallon, up 30 cents over the past two weeks and up 4 cents in the past week.

Hurricane Irma is not expected to affect gasoline prices, but retail effects from the storm that lashed Texas and parts of Louisiana continue, said Patrick DeHaan, senior petroleum analyst for GasBuddy. A year ago, the state average was $2.32. The wholesale price of gas is falling, the supply of gas remains high and Gulf Coast refineries shut down prior to Harvey are coming back on line.

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According to AAA's Fuel Price Finder, the price at the pump was as low as $2.55 in the Capitol Trail-Kirkwood Highway area between Wilmington and Newark.

The price action suggests the market was unable to sustain earlier strength on the daily chart as weakening demand off of hurricane activity more than offsetting any potential loss of production. Once power is restored and roads open, gasoline deliveries will resume.

AAA is closely monitoring Hurricane Irma's track.

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"Harvey may be long gone, but his wrath continued to drive gasoline prices up in much of the country in the last week".

This compares with the national average that has increased nearly 2 cents per gallon in the last week to $2.65.

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