Las Vegas Gas Prices Surge Amid Global Oil Price Volatility
Gas prices in Las Vegas are poised to continue their upward trend due to international conflicts affecting oil costs. The average price for regular unleaded gas in Southern Nevada rose by 14 cents over the past week, reaching $4.72 per gallon on Friday, according to AAA.
This increase is attributed to various geopolitical factors, including the ongoing challenges between the US and Iran, as well as attacks on Russian oil refineries in Ukraine and the Red Sea.
Patrick De Haan, lead petroleum analyst with GasBuddy, stated that 'oil prices are down today, but they're still up quite a bit from last week.' He noted that the recent surge in Brent crude oil prices to a six-week high of $100 per barrel is a signal for further retail price increases.
De Haan warned that if these issues persist overseas, gas prices will continue to rise, with a $5 per gallon average in Southern Nevada not out of the realm of possibility.