Gas prices expected to climb this summer

With COVID restrictions coming down little by little, more Americans are expected to take a summertime trip this year.  If they plan to drive, they should anticipate higher gas prices.

In the past, when crude prices would rise, oil companies would kick drilling into high gear to capitalize, thereby driving down crude prices. Supply and demand. But a rash of bankruptcies in the industry has executives re-thinking that cycle. Crude prices have risen in the last few months, but oil companies have resisted the temptation to pump more out of the ground, allowing prices to continue their climb as the world economy recovers. For the driving public, the result may be four-dollar gasoline by summer.

According to the Triple-A Fuel Survey the average pump price in ND is $2.78.  In Minnesota the going rate is $2.76 a gallon.

ABC/KNOX