Experts Say Big Jump In Gas Prices Expected
PITTSBURGH (KDKA) – Prepare to say goodbye to the low gas prices we've been enjoying for months.
GasBuddy says the next two to three weeks are expected to bring about unusually high jumps in prices across the country.
Soon many gas retailers will switch from "winter blends" to "summer blends," which alone usually causes a jump in price.
GasBuddy says the average gas price has increased by more than 50 cents since the beginning of this month.
Additionally "significant operational issues" at several domestic refineries is also expected to push up the price.
"Wednesday brought a big price rally in gasoline markets and gasoline wholesalers are seeing huge increases," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "Wholesale prices today alone have increased coast to coast from 10 to 27 cents per gallon; and when you add that on top of the increases that occurred earlier this month, it's inevitable that retail prices will climb aggressively in weeks ahead."
GasBuddy says it expects a jump of 10 cents per gallon each week for the next three weeks. According to its website, the average price for gas in Pennsylvania is $2.48 per gallon.
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