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Crude, Gas Prices Rebound Higher

Adobe Stock photo

Adobe Stock photo

Crude oil and gasoline prices have turned higher again after spending the first half of April easing off the record highs set in March.

Brent crude was back up to the $110 to $112 per barrel range this morning after falling below $100 last week.

The average pump price of gasoline in the United States rose today by 1.4 cents to $4.101 per gallon, according to AAA.

Fluctuating gasoline prices traditionally have an impact on boat usage. Market participants became concerned when the AAA average gasoline price soared to a record $4.33 per gallon in March.

After the Biden Administration and others announced releases from strategic crude reserves, oil and gas prices declined from record highs but have now turned higher with spring and summer vacation driving seasons.

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