The rising fuel prices are coming as a rude shock to the residents of Long Island, the highest they have paid so far in the past three years. Monday saw the average per gallon price hiking to $2.97 about 42 cents higher in comparison with last year.
The entire nation has seen a steep increase in the price of gas from November 2014. The national per gallon average of normal unleaded gas stood at $2.81 in comparison with $2.38 of the previous year. The Global Head of Energy Analysis in the Wall, New Jersey, Office of Oil Price Information Service, Tom Kloza stated that Long Islanders may as well be prepared to face an increased per gallon price band of $2.95 to $3.10 in the coming days.
Different areas recorded varying per gallon prices for normal unleaded gas, with Cumberland Farms, Plainview displaying $2.94 price tag while an East Farmingdale Speedway recording a $2.89 price and QuickChek, Copiague having a $2.85 price tag per gallon of gasoline.
Different individuals are tackling the price hike in their own way. A water and sewer business owner, Terry Gallagher intends passing on the hike in fuel prices to his customers. Sue Byrne, a speech pathologist at Lindenhurst intends to use her Volvo for traversing distances to her clients rather than the Jeep Grand Cherokee which she currently fuels up.
Several reasons can be attributed to the price hike; one being increase in the price of crude by $20 per barrel in comparison to last year. Consequently, the nation-wide demand has clocked a high of 414 million gallons per day for the week ending April 20, 2018. Costs have also increased due to the mandatory requirement of selling summer-blend gas during the period 15 March 2018 to 15 September 2018. States which have higher gas taxes need to burn their pockets more for payment of gas.
All said and done, seasonal fluctuations are bound to be there and they have to be taken in stride!