Why prices at the gasoline pump are going up

Published March 3, 2021 12:00am ET



Gasoline prices have risen in recent weeks, buoyed by demand, but oil supplies haven’t kept pace, with recent price spikes attributable to the rare cold snap in Texas.

National average gas prices have increased for eight weeks in a row, reaching $2.72 as of Monday, according to price tracker GasBuddy. The Energy Information Administration finds average gas prices are roughly 30 cents higher than they were this time last year.

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