Fuel Prices Climb Ahead of President-Elect Donald Trump's Inauguration

A change in United States presidential administrations and a ceasefire in the war between Israel and Hamas apparently did not help.

If you think you are seeing a rise in fuel prices, you are.

Oil costs hovering around $80 a barrel have helped push the national average for a gallon of gas four cents higher since last week to $3.10.

Meanwhile, today’s national average per kilowatt hour of electricity at a public EV charging station remained at 34 cents.

“Domestic gasoline demand is low, so why are pump prices creeping higher?  Look at the cost of oil,” said Andrew Gross, AAA spokesperson. “Global oil prices have surged due to strong winter heating fuel demand and new U.S. sanctions against Russia’s energy sector. Oil costs account for 56 percent of what you pay at the pump. So, more expensive oil leads to more expensive gas. But that said, there are still 26 states with averages below $3 a gallon for now.”

Like with anything, only time and circumstances will tell if prices will continue to climb or drop.

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