Gasoline costs elevated this week to hover above final yr’s common amid rising oil costs, falling inventories, and a dearer summer time mix of fuel.The nationwide fuel common on Friday sat at $3.53 per gallon, almost $0.10 larger than a yr in the past, in accordance with AAA knowledge. “Fuel costs are quite a bit like seasonal temperatures. They begin to rise with the arrival of spring,” mentioned Andrew Gross, a spokesperson for AAA.The nationwide common on Friday sat at a better stage than a yr in the past for the primary time since late December.Costs in California, the costliest state for gasoline, approached $4.97 per gallon, $0.14 extra the identical day final yr.Gasoline costs usually rise heading into the spring as extra motorists get on the highway and refineries introduce a dearer summer time driving gas mix. This yr’s retail costs have additionally been impacted by a gentle climb in crude oil futures.As of Friday, West Texas Intermediate (CL=F) contracts had been hovering round $81 per barrel whereas Brent (BZ=F), the worldwide benchmark worth, traded close to the $85 stage. Brent and WTI have gained about $10 per barrel for the reason that begin of the yr.Ongoing output cuts from oil alliance OPEC+ together with Russian refinery interruptions stemming from Ukrainian drone assaults have lifted crude costs in latest weeks.”Whereas inventories are shrinking, most merchants really feel the newest rally in costs has occurred a bit too far too quick and a corrective section is required. Nonetheless, the decline in Russia’s world exports (resulting from Ukrainian assaults) can be a provide issue as driving season begins, ” Dennis Kissler, senior vice chairman at BOK Monetary, mentioned in a latest observe.Drivers within the Midwest may see a slight slowdown in worth will increase on the pump after BP’s Whiting, Ind., refinery, the biggest within the area, confirmed it has resumed full operations for the primary time since its Feb. 1 energy outage.In Illinois, the place fuel shot up about $0.22 per gallon over the previous week, the state common was hovering at $3.92 on Friday.Story continuesHigher fuel costs in February had been one of many primary drivers behind a stunning rise in inflation reported final week.The nationwide fuel common on Friday sat at $3.53 per gallon, almost $0.10 larger than a yr in the past. Image taken March 10, 2022. (REUTERS / Reuters)Ines Ferre is a senior enterprise reporter for Yahoo Finance. Observe her on X at @ines_ferre.