AAFES gas prices hit more record highs
Pump prices will rise nearly 6 cents a gallon Saturday at most AAFES gas stations in Europe, hitting record territory for the third straight week.
Midgrade unleaded gas in Germany will climb 5.7 cents a gallon to $3.669 when the Army and Air Force Exchange Service adjusts retail prices at midnight Saturday.
Elsewhere in Europe, midgrade unleaded will hit $3.607 in the United Kingdom — a 5.8-cent increase — and a whopping $4.256 a gallon in the Netherlands.
Motorists with diesel cars will fare even worse, with prices going up 10.4 cents in all countries except the Netherlands, where prices will climb 13.3 cents to $4.684 a gallon.
Gas prices at U.S. military bases are still a bargain when compared to prices on the local economy. This week, the price of regular gasoline in London was 1.0794 pounds per liter, or about $8.30 a gallon. After conversion, diesel prices were $9.01 a gallon.
AAFES gas prices overseas reflect stateside prices, which have been marching upward the past three weeks.
The U.S. average retail price for regular gasoline set another all-time record of $3.389, according to figures from the U.S. Energy Information Administration posted Wednesday.
That price is 51.3 cents higher than last year’s average at this time.
Crude oil prices — which account for up to 70 percent of what drivers pay for gas — are projected to keep retail gas prices above $3 a gallon for some time to come, according to the EIA.
Crude oil climbed to a record $115.21 a barrel this week, according to Bloomberg News.
Prices also are expected to stay high during the summer driving season. According to the EIA, the cost of making “summer-grade” gasoline, which produces less smog, costs significantly more than producing “winter-grade” gas.