For the second consecutive week, the national average price of gasoline has increased, rising 6.4 cents to $1.83 per gallon.
“As long as states continue to loosen restrictions, it’ll mean more motorists on the roads and filling their tank,” said Patrick DeHaan of GasBuddy, who noted that the increase is attributed to a near five percent increase in gasoline demand.
Crude oil prices continue to march higher as demand for gasoline weighs on the market, with a barrel of West Texas Intermediate crude oil fetching $24.99 Monday morning, up from $19.19 a week ago, an increase of over $5 per barrel. Brent crude oil was last at $31.11 per barrel, up from $26.01 a week ago.
The oil rally has come as OPEC and other oil-producing countries limit production and as U.S. gasoline demand has rallied as motorists in reopened states and others alike take to the road.
The average price of diesel fell 1.6 cents to $2.41 per gallon.