Gas Prices Continue to Rise Despite Weak Demand

Ad Feedback

Prices at the pump are now up almost two-thirds since the beginning of the year.

The average price for regular unleaded gas is about $2.67 per gallon.

This despite motorist's demand for gas remaining weak.

"We've seen a lot of flows out of other types of investments and into oil and gas and other commodities, which has placed a large role in running it up this summer," said Bruce Bullock with Southern Methodist University.

The good news?  Media reports say we may soon be nearing a peak in prices.

The five cent per gallon rise in gas over the past week was the smallest increase since early May.

And prices have started to go down in the Midwest, where they've been paying the most for gas.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

 CBNNews.com

CBNNews.com

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.