Gas prices are once again rising at the pump and it’s expected to continue to rise towards $5 towards year end.

You may have noticed that the price of gas hasn’t stayed cheap and gone down in price like you expect it to always do, and there’s good reason for that. As per KTLA News on their report on this worrying trend on the rise on prices earlier today (Sept. 27,2018) prices for crude oil are simply rising around the world and there’s nothing anyone can do about it. To add to the worry, all of this stems because of political unrest in the global supply that will see gas prices continue to rise, possibly touching $5 (or $4.99.) at year’s end.

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If you fill up in Long Beach, Calif, expect to pay $3.73 a gallon. It’s slightly cheaper in the Central Valley at around $3.40 depending on where you go. The same can be said for the Bay Area with prices around the same, at $3.50.

But, the trend is a rise in prices. This is not surprising in the least. Actually, it’s the trend around the nation as literally everyone is paying more at the pump.

The fact of the matter is that the price of a barrel of oil has shot up tremendously, try 31 cents to $71.89 a barrel as early as trading this Thursday. To put that into context, the price for a barrel of oil has risen 39 percent in the last year because of overproduction of oil.

There isn’t a shortage of oil, per say, but there’s just too much being made right now that the supply has been artificially constrained to not overshoot our shot, so to say.

It looks like that strategy has backfired as, according to AAA, global supply unrest in Iran and Venezuela is to blame.

 The multiple weeks of inventory decline imply there is tightening in the crude market ahead of what is expected to be a volatile fall due to U.S.-imposed sanctions on Iran and economic collapse in Venezuela reducing global crude supply. The new crude data from EIA will likely leave the market searching for additional evidence of supply constraints, including next week’s EIA report, that could push crude prices higher this fall..

Like it or not, fuel prices will continue to rise in the coming weeks. Like always, plan your drives, drive less in general, keep a light foot on your accelerator, and we’ll all get through this latest rise, together.

That is if oil doesn’t hit $100 a barrel, a gallon costs $6 and above and we really start panicking.

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