Average US price of gas jumps 8 cents per gallon to $3.10 (Las Vegas Sun)

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    Average US price of gas jumps 8 cents per gallon to $3.10 – By Las Vegas Sun Newsroom (Las Vegas Sun) / May 23 2021

    CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline jumped 8 cents over the past two weeks, to $3.10 per gallon.

    Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the increase is attributed to supply disruption from the 10-day shutdown of the Colonial Pipeline following a cyberattack, and a rise in prices for corn, a key ingredient in corn-based ethanol that must be blended by refiners into gasoline.

    The price at the pump is $1.05 higher than it was a year ago.

    The highest average price in the nation right now is $4.23 a gallon in the San Francisco Bay Area. The lowest average is $2.53 in Houston.

    The average price of diesel is up 6 cents over the same period, to $3.22.

    Colonial, which supplies about 45% of the fuel consumed on the East Coast, said that after it learned of the May 7 ransomware attack, it took its pipeline system offline in order to restart operations quickly and safely. The shutdown led to panic buying of gasoline in many communities.

    CONTINUE > https://lasvegassun.com/news/2021/may/23/average-us-price-of-gas-jumps-8-cents-per-gallon-t/

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