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Gas Price Report: Week of Sept. 16, 2019

Gas prices hold steady but experts predict a spike in fuel costs in the near future.

The national gas price average remained at $2.57 this week, but motorists can expect that number to rise in the coming weeks due to recent events. Over the weekend, two major oil facilities in Saudi Arabia – including the world’s largest, Abqaiq – were attacked by drones. The attacks have taken 5.7 million (crude) barrels per day off the market, accounting for about 6% of the global supply. Damage to the facilities is still being accessed, but there is no word if it will be days, weeks or even months before infrastructure is repaired.

“Americans can expect local pump prices to start to increase this week. The jump could end up being as much as a quarter per gallon throughout this month,” said Jeanette Casselano, AAA spokesperson. “Whether this is a short- or long-term trend will be determined by the price of crude oil prices and how quickly the facilities in Saudi Arabia can recover and get back online.”

Today’s national gas price average is 7 cents cheaper than last month and 28 cents cheaper than this time last year. But these gaps are likely to shrink as the market adjusts to the news and crude oil prices increase.

National average: $2.57

Local state averages:

CT: $2.68        MA: $2.58       NH: $2.46       NJ: $2.55         NY: $2.72       RI: $2.51

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Historical Context

This week in history: Sept. 20, 1973

Billie Jean King beats Bobby Riggs in the highly publicized “Battle of the Sexes” tennis match.

National gas price average in 1973: $0.39

Cost to fill a tank (1973/2019):

GMC Sierra

$9.36/$61.68

Subaru Outback

$7.21/$47.54

Hyundai Elantra

$5.46/$35.98

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/Mobile.

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