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This clip from The NewsWorthy explores a few reasons why gas prices are so high right now, including rising corn prices.
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This clip from The NewsWorthy explores a few reasons why gas prices are so high right now, including rising corn prices.
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If you're planning a road trip for the upcoming memorial day holiday, you may want to plan for extra spending at the pump right now, gas prices are hitting levels not seen since 2014. The national average price for a gallon of regular gasoline is about $3.10 as triple a. Reports. The average price at this time last year was less than $2. Analysts say there are a few reasons why gas prices are going up. Remember the colonial pipeline shutdown earlier this month? That situation certainly didn't help the pipeline supplies about 45% of the gas on the East Coast and the shutdown prompted some drivers to panic, buy at the pump, making things worse. Another reason rising corn prices, since corn is a key ingredient in ethanol and Refiners are required to blend ethanol into gasoline. Lastly, there is more demand for fuel gas. Buddy says 57% of americans are planning at least one road trip this summer. Gas prices are expected to stay around the $3 per gallon range through Memorial Day, at least
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