Fuel Prices Start to Rise at the Pump Following Saudi Attack

The drone attack on an oil facility in Saudi Arabia that saw a spike in crude prices is likely to cause gasoline and diesel prices to jump later this week.

The average price in the United States for a gallon of regular gasoline on Tuesday was $2.592 according to the AAA.  While that price is eight cents lower than the $2.627 that drivers were paying at the pump one month ago, it is three cents higher than the price on Monday. The price per gallon during the same time last year was $2.846.

The average price of a gallon of diesel fuel on Tuesday was $2.939

Fuel prices typically peak in the summer months and gradually drop towards the end of the year.  With the sudden spike in oil prices following the attack, that is unlikely to be the case this year.

(Photo: Accura Media Group)