Goldman Sachs predicted the average price for a barrel of Brent crude, the benchmark used for oil traded in Europe, will be $140 a barrel between July and September, up from its prior call of $125 a barrel.
The price of a barrel of crude is now above $120 a barrel, up from just less than $100 a month ago, And prices continued to climb in early trading Wednesday. The EU’s recent decision to ban oil tanker shipments from Russia as sent oil prices soaring on those global markets. While the United States has never imported significant amounts of oil from Russia, the commodity is traded on global markets, and Europe was greatly dependent on Russian exports. “Come hell or high gas prices, people are going to take vacations,” “Anything goes from June 20 to Labor Day,” Kloza said about the demand for gas as people hit the road for long-anticipated getaways. The national average for gasoline could be close to $6 by later this summer according to Tom Kloza, global head of energy analysis for the OPIS, which tracks gas prices for AAA. With the summer travel season just getting underway, demand for gasoline, coupled with the cut-off of Russian oil shipments due to the war in Ukraine, is sending oil prices higher on global markets. And as of Tuesday, 29% of the nation’s 130,000 gas stations were already selling gas for more than $5 a gallon.Īnd the worst is yet to come for drivers. The statewide average rose by at least a penny in every state but Florida, where prices remained essentially unchanged. The highest priced state remains California, with a state average of $6.39 a gallon. Idaho, Ohio and Pennsylvania became the latest states to cross that threshold.
#World of tanks blitz maintenance plus
There are now 16 states plus Washington DC with averages of $5 or above. For much of the country, $5 gas is already here.
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