23 January 2023
TOPEKA (KSNT) – Prices at the pump are moving up, according to a recent report for the Topeka area, making it more difficult for local residents to find gas for under $3 at the pump.
GasBuddy, a tech company which monitors real-time fuel prices, has said that gas prices in Topeka have risen by around $0.51 per gallon since December 2022. Gas prices increased by around $0.17 per gallon in the past week. Capital city gas prices now average around $3.08, according to a GasBuddy survey of 104 stations in Topeka.
GasBuddy reports the cheapest station in Topeka came in at $2.99 while the most expensive was recorded at $3.11. The lowest price for gas in the state is $2.65, with the most expensive at $3.29.
“Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
The national average price for gas rose by around $0.11 per gallon in the previous week with an average of $3.39 per gallon. This is an increase of around $0.30 per gallon nationally compared with prices from a month ago.
“Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new Covid cases,” De Haan said. “In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating.”
GasBuddy draws its data from 150,000 gas stations nationwide and is recognized as an authoritative voice for up-to-date gas prices.