WTAM Local News

 

Gas prices go up again and will keep going up

Gas prices go up again and will keep going up

(Cleveland)--If you haven't seen it happen already, it will soon. Gasoline prices in Greater Cleveland and across the rest of Ohio are going up and will keep going up.

Patrick DeHaan, senior price analyst for Clevelandgasprices.com, tells WTAM 1100 that the average price on Friday morning was $3.64 a gallon, up 20¢ per gallon in the last week, with a lot of Greater Cleveland gas stations raising their price to $3.65 on Thursday.

Unlike in recent weeks when prices went up in the Great Lakes region due to refinery issues, this time, it's because of national and world issues. DeHaan says oil prices have gone up $10 a barrel in recent days. He puts the blame on uncertainty over the situation in Egypt and how it could affect Suez Canal traffic, as well as a 6% decrease in oil inventories across the country.

DeHaan says gasoline prices in the Great Lakes region tend to go up and down before the rest of the nation, depending on activity by different gasoline retailers, but he's sure the rest of the nation will catch up.

Will we see any decrease in prices? DeHaan says not in the short term. "We are tracking continued increases in the wholesale cost of gasoline. We could see another gas price increase early next week."

 Get breaking news sent to your mobile phone.Text "news" to 21095.

(Copyright 2013 Clear Channel, all rights reserved. Photo by Cameron Spencer/Getty Images News.) 

AddThis Social Bookmark Button

 

More Articles