Gas prices jump 4.5 cents on average nationwide; all eyes on Colonial Pipeline cyberattack
(KFVS) - Gas prices continue to rise nationwide, but many analysts are focusing on the cyberattack that has shut down the Colonial Pipeline and what effect it could have on gasoline supply in the U.S.
According to GasBuddy, analysts are hoping the situation will improve soon and before the summer driving season.
“The situation is growing more intense each day that passes without the pipeline restarting, and motorists are advised to show extreme restraint or exacerbate and prolong the challenges,” stated Head of Petroleum Analysis for GasBuddy Patrick De Haan. “If the pipeline returns to service in the next day or two, the challenges will be minimal, but if full restart doesn’t happen by then, we’re likely to see a slight rise in gas prices, but more importantly, challenges for motorists needing fuel in Georgia, Tennessee, the Carolinas, Virginia, Northern Florida and surrounding areas.”
As of Monday morning, May 10, the nationwide national average for regular unleaded gasoline was $2.956 per gallon, which 4.5 cents higher from last week.
Prices were up 10 cents compared to this time last month and up 112 cents from a year ago.
The following chart shows average fuel prices per gallon in Missouri, Illinois, Kentucky and Tennessee:
|State||Average price 5/10||Last week’s average||Last month’s average||Price average last year|
|Illinois||$3.204/gallon||$3.102 (up 10.2 cents)||$2.988 (up 21.6 cents)||$2.043 (up 117 cents)|
|Kentucky||$2.863/gallon||$2.701 (up 16.2 cents)||$2.672 (up 19.1 cents)||$1.609 (up 125 cents)|
|Missouri||$2.738/gallon||$2.673 (up 6.5 cents)||$2.641 (up 9.7 cents)||$1.458 (up128 cents)|
|Tennessee||$2.701/gallon||$2.676 (up 2.5 cents)||$2.661 (up 4.0 cents)||$1.569 (up 113.2 cents)|
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