Gas Prices Continue to Climb

Motorists both locally and nationwide are feeling the pinch at the pump as prices rise to levels not seen in more than two years, according to the latest survey by AAA.

The national average price of regular grade gasoline reached a 28-month high of $3.16 on Friday, up 3 cents from a week ago and 55 cents above the same point a year ago. In Maryland, the average price of regular grade gasoline is $3.11, up 2 cents from a week ago and up 48 cents from a year ago.

“Pain at the pumps continued this week as the national average price of gas soared to 28-month highs,” said AAA Mid-Atlantic spokesman Ragina C. Averella in a statement.  “Crude oil continues to be the key factor behind these increases, but not in the traditional sense.  Rather than U.S. refined WTI crude oil, it has been the internationally refined Brent crude oil that has surged to over $103 a barrel (more than $17 a barrel higher than WTI) amidst continued unrest in the Middle East and a driving force behind recent increases at the gas pumps.”

According to AAA, analysts have begun to look ahead to spring in terms of gas prices.  Tom Kloza, OPIS chief oil analyst, has predicted prices will range from $3.50 to $3.75 a gallon this spring and then drift lower to between $3 and $3.40 a gallon, explaining that he sees this year’s gas prices as “front-end loaded.”

Here are the cheapest gas prices in Essex-Middle River, according to MarylandGasPrices.com.