Gas Prices Could Soar Past Last Year's Rates Amid Refining Woes Gasoline prices in the U.S. are undergoing significant increases due to recent constraints on refinery operations and rising oil prices. As of Monday, the national average price for a gallon of gas was $3.35, marking a $0.09 increase from the previous week, yet it remains $0.05 cheaper than this time last year, according to AAA. The challenges facing U.S. refineries include severe weather conditions and power outages at critical facilities. Tom Kloza, the global head of energy analysis at OPIS, informed Yahoo Finance that these disruptions could soon push retail gas prices above those recorded a year ago. This situation highlights the fragile balance in the gasoline market, where supply disruptions and fluctuating oil prices can quickly lead to higher costs for consumers. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Best Places to Hide Gold and Silver at Home READ MORE Fed's Waller Confirms: U.S. Dollar to Retain Its Global Reserve Currency Status READ MORE ZeroHedge: There's An Odd Chill In The Air – Dallas Fed Respondents Warn Of "Pending Doom" READ MORE Inflation Ticks Higher in January, Surpassing Predictions READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment