Gas prices in some states on Monday saw a steep uptick despite President Donald Trump‘s warning against oil companies raising costs at the pump, much to GasBuddy analyst Patrick De Haan‘s frustration.
Gas Prices Rising Is ‘Extremely Frustrating’, Says De Haan
In a series of posts on X, De Haan outlined the sharp surge in gas prices at the pump in states like Florida and Michigan, where the price cycles were “absolutely wild” and “nearly impossible to justify with retail prices over $1/gal higher than spot/wholesale price,” the analyst said.
The analyst added that transportation costs, as well as taxes, were factored into the price rise; it was still a “very lofty” surge and “extremely frustrating,” he said.
He then called the price hikes in Colorado and Florida “unwarranted and ridiculous” spikes right before the Fourth of July weekend in separate posts. Gas retailed for an average of $3.89/gallon in these states, according to De Haan.
De Haan then called out the price cycle in Michigan, where gas prices exceeded the $4 mark and averaged at $4.19/gallon. “This is an unwarranted and ridiculous spike ahead of July 4 and is a routine price cycle,” he said in the post.
Gas Prices In The U.S.
On Monday, the national average price for a gallon of gas fell to $3.86, according to the data collected by the American Automobile Association (AAA).
Hawaii took over California as the state with the highest gas prices at $5.4990/gallon compared to the latter’s $5.4550/gallon. Washington residents also continued, on average, to pay more than $5 for gas.
Notably, Trump had directed the Department of Justice (DOJ) to investigate why oil companies failed to reduce prices at the pump despite oil falling globally. The president had said that prices were not falling fast enough.
At press time, the West Texas Intermediate (WTI) Crude was trading at $70.46/bbl while the Brent crude commanded a price of $72.74/bbl.
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