Cheap petrol prices are up again, but not as much as you think

By John Vidal-Thorne, CNBC November 16, 2017 12:57:37The price of gasoline has surged again, with fuel prices rising by a whopping $1.23 per gallon over the past 24 hours, according to a new report from GasBuddy.

The latest report comes as fuel costs in some U.S. states have been hitting new highs.

On Wednesday, fuel prices hit a record $1,212.98 per gallon in the Houston area.

By Thursday, the average cost of gasoline was up by $1 a gallon.

In a statement, the gas station said it’s expecting prices to rise again, this time by an average of $1 to $1 (1-cent) per gallon for the next few weeks.

The average price of gas in the U.K. hit an all-time high of £1,221.30 per gallon on Thursday, according with The Independent.