Bad News: Gasoline Prices Aren't Done Going Up

[Purveyor]

Gasoline prices seen jumping at least another 10 percent

Published: Monday, 24 Feb 2014 | 1:04 PM ET
By: Patti Domm | CNBC Executive News Editor

Gasoline prices, already up about 12 cents in two weeks, are expected to bubble up at least another 10 percent before peaking in the spring.

"I do suspect that March will probably deliver the largest increases," said Tom Kloza, chief oil analyst at GasBuddy. "I think they top out, and then I think they drop back."

Gasoline is averaging nearly $3.41 per gallon nationally, up 6 cents from last week, according to AAA. Kloza expects to see regular unleaded gasoline rise to $3.70 a gallon by Easter Sunday, April 20.

"The worry I have for the summer is hurricane season. We have not had a hurricane strike the U.S. since we have been an export country. We export 1.3 million barrels of diesel and probably looking at exports of gasoline that are 700,000 barrels a day," he said, adding that U.S. export refineries tend to be along the Gulf Coast.

GasBuddy.com has been forecasting more expensive gasoline because of the start of annual refinery maintenance for the shift to summer fuels.

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http://www.cnbc.com/id/101440663

Our local mid-michigan prices are around 3.65. Month ago is was around 3.29...

[tridim]

1. Enhanced profit-margin straight from the ass of the 1%.

Winter blend? Raise gas prices.

Summer blend? Raise gas prices.

Nothing happens at all? Raise gas prices.

[louis-t]

2. Someone sneezes in Nigeria?

Raise 'em.