Pain In The Pump: Surging Gas Prices Are Destroying Trump's Economic Recovery. Can Feds Save The Family Budget?

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Pain In The Pump: Surging Gas Prices Are Destroying Trump's Economic Recovery. Can Feds Save The Family Budget?

By Mike Schuh

Filed Under:Cost Of GasGas Price

BALTIMORE (WJZ) — The cost of gas is up across the country, including in Maryland, and is inching toward the highest price in three years.

Gas is going up about a penny every other day — 15 cents in the past month.

“We’ll be paying the highest prices for this time of year since 2014,” said Christine Delise with AAA.

Gas companies are changing over to a different summer blend. To do so, some refineries shut down, leading to the classic market principal of supply and demand. A tighter supply means they can demand more for your fuel.

Demand is up as people are driving more, and crude oil prices are up $15 per barrel compared to this time last year.

“Every time crude oil prices rise a dollar, consumers will pay roughly 2.4 cents more per gallon,” Delise said.

This week, the average price in marylMarylandxactly the same as the nationwide average of $2.67 a gallon.

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