This is the highest price since mid-November, and 50 cents higher from the lows seen during the holiday season, when prices dropped as low as $2.89 at many stations.
Reason for the unusual January jump
AAA blames rising crude oil prices for the slow rise in gas prices nationwide this month.
Oil has surged from $60 to over $80 a barrel as China has reopened its economy, after two years of a COVID-19 pandemic lockdown. Refinery shutdowns over Christmas have also contributed to the recent rise.
AAA says it is unlikely we will return to the December lows, given that gas prices typically rise in February and March, in anticipation of the spring driving season.
As of Thursday, drivers could still find gas for $2.99 in parts of Springdale and Florence, Ky., though most stations were in the $3.25 to $3.35 range and moving up toward $3.49.
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