The retail increase will be dependent on how expensive crude oil price goes and the duration at which crude sells at the higher price point in the market.
The agency said CT drivers are paying $2.98 per gallon right now, which is 47 cents higher than this time past year.
A gallon of regular gas averages $2.82 across MA, according to figures released Monday by AAA. At that time, gas prices averaged around $2.80 nationwide and in Florida, $2.72 in Georgia and $2.59 in Tennessee, which are about the same as what motorists are paying at the pump today. Areas in California and their current gas price climate: Stockton- $3.51/g, up 3.2 cents per gallon from last week's $3.48/g.
President Trump announced the new sanctions on Tuesday, May 8.
Oil prices rose above $70 a barrel in Monday trading for the first time in three years.
Fox 40 spoke with one woman at the pumps to get her insight into the price fluctuation, Julia Bennet, Endicott, said she isn't surprised by the rising numbers due to the warmer climates. "Motorists should expect the national average to drift around in the upper $2 per gallon range for much of the summer", said GasBuddy's head petroleum analyst Patrick DeHaan on Monday.
Memorial Day is historically a period when prices climb as refiners and gas stations prepare for the summer driving season. Friday's closing price of $69.72 per barrel is the highest daily settlement since November 2014, AAA said.
Industry analyst Trilby Lundberg of the Lundberg Survey says the increase is largely driven by higher crude oil costs and the phasing-in of summer-grade gasoline, which is used to prevent smog.
The highest normal price in the contiguous 48 countries has been $3.73 in the San Francisco Bay region. Gas prices will eventually follow in the weeks following, whichever way oil moves.