If you had to look twice this week when you passed gas stations you were not alone. Triple A’s Rose White tells us this is likely the start of what could be a wild ride.
“Some reporting 10 to 15 cents a gallon. The reason for that is basically a catch-up from what has been seen in the commodities market.”
Early Wednesday morning prices jumped 10 to 15 cents a gallon. White says commodity prices for a gallon of regular unleaded is about 3.07 a gallon. She breaks down what else we are paying for.
“18 cents for federal taxes. 27 cents in state gasoline taxes. Another 20 to 25 cents for delivery of the product to the fuel outlet along with the retailer’s cost and profit margin.”
White says the reason for the jump is when crude oil prices hit the 100-dollar a barrel mark, those prices were not reflected at the pump so this is a correction.
“Not all of the increases have been past on to consumers. Once it is and if it holds steady at the current prices we are seeing we will likely be paying close to the $3.65 range.”
In the Omaha metro area a gallon of unleaded regular is $3.56.