Rise in gas prices attributed to seasonal weakness, omicron, unrest abroad

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TOPEKA (KSNT) – Gas prices in Topeka have risen almost a dollar compared to last year, according to a survey from GasBuddy.

The survey reviewed 104 gas stations across Topeka which showed that gas prices have risen $.86 cents per gallon since this time last year, averaging $2.95 per gallon as of Monday. The lowest priced gas station in Topeka came in at $2.74 per gallon while the most expensive was $2.99 per gallon.

In Kansas, the lowest priced gas station was $2.68 per gallon while the highest was $3.40 per gallon. In comparison with Topeka, gas prices were found to be $2.94 in Wichita and $2.88 in Kansas City.

“Oil prices have remained stubbornly strong, touching nearly $80 per barrel last week, pushing gasoline prices higher even as U.S. gasoline demand starts to struggle,” Patrick De Haan, head of petroleum analysis for GasBuddy said. “Some of this is typical seasonal weakness, but the lack of demand is likely enhanced by omicron cases surging and Americans who are just a bit more hesitant to get out right now.”

“In addition, unrest in Kazakhstan, the 18th largest oil producer, is likely leading to impacts on oil production, while continued unrest in Libya also worries markets and overpowers the seasonal drop in gasoline demand. Without improvement or stability in oil producing countries, we’re likely to continue to see upward pressure on oil prices,” Haan said.

GasBuddy analyzes gas prices across the nation to help American motorists make better decisions when trying to save money at the gas pumps. To learn more about GasBuddy, check out their website here.

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