Gas prices go up, expected to rise more - FOX Carolina 21

Gas prices go up, expected to rise more

Posted: Updated:
  • Gas prices go up, expected to rise moreMore>>

  • What's the lowdown on high gas prices?

    What's the lowdown on high gas prices?

    Monday, July 2 2012 3:32 PM EDT2012-07-02 19:32:03 GMT
    What determines the cost of a gallon of gas?  One part of the price may surprise you.  It may add up to sixty cents per gallon to what you pay at the pump.More >
    What determines the cost of a gallon of gas? One part of the price may surprise you. It may add up to 60 cents per gallon to what you pay at the pump.More >
GREENVILLE, SC (FOX Carolina) -

Gas prices jumped up a few cents in Greenville over the past week and experts expect them to rise even more.

The average retail price for a gallon of gas has risen 4.3 cents in the area, bringing the average price to $3.05 a gallon, according to the gas pricing website GasBuddy.com.

The national average is at $3.34 per gallon after an increase of 5 cents per gallon during the past week, GasBuddy is reporting.

"After weeks of relative stability with little change in gas price nationally, we've seen a new trend develop that has sent the national average to its highest level since mid-October," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

Prices on Sunday were 43 cents lower than the same day a year ago and 3.4 cents per gallon higher than a month ago.

GasBuddy analysts expect a continuous increase into the spring.

"Oil prices have recently surpassed $100/bbl, a $6/bbl jump since we began 2014, and unfortunately this new trend may signal the beginning of "March Madness", the time of year that brings large spikes in gas prices. Very few stations have gasoline under $3/gal, and I expect those few stations will all but dry up over the next couple weeks. The national average will likely rise 35-50 cents per gallon by the time gasoline prices peak in April or May, ahead of the start of the summer driving season that brings the switch to more expensive, cleaner burning summer gasoline," DeHaan said.

Copyright 2014 FOX Carolina (Meredith Corporation). All rights reserved.

Powered by WorldNow
Fox Carolina
Powered by WorldNow CNN
All content © 2014, WHNS; Greenville, SC. (A Meredith Corporation Station) and WorldNow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.