Gas Prices Rise
RV Business
Don’t panic. Rising gas prices are not steadily marching toward the $3 US a gallon mark, experts are saying.
But, according to N.J.com, it also doesn’t mean they will slide down below the $2 US a gallon mark that drivers have enjoyed in the recent past.
“The bright side is what we saw in the last week isn’t the start of 20 weeks of that,” said Tom Kloza, gasoline expert for the Oil Price Information Service. “We are pointed higher, until the start of baseball.”
Prices will continue to increase from current averages of $2.02 a gallon, heading toward $2.25, he said. Gas Buddy.com shows the cheaper prices ranging in the mid-$1.80 range at unbranded gas stations.
“People think we’re on the way up to $3 a gallon gas, we’re not on the way,” said Kloza who predicted pump prices will hit $2.50 to $2.60 by spring.
That might be difficult news for drivers to swallow when there are still reports of high levels of crude oil supplies, Kloza said.
"Nothing has changed, we've got a little refinery downtime and a market that is recovering from a $60 a barrel spanking from June to mid-January, "he said. "There is no need to panic."
Some of those refinery issues include 5,200 members of the United Steelworkers union walking off their jobs at refineries and chemical plants that process more than 10 percent of U.S. petroleum products, said Tracy Noble, an AAA MidAtlantic spokeswoman.
However, that work stoppage isn't expected to have a significant impact on gas production in the short-term because refineries continue to operate, she said.
Originally published at http://www.rvbusiness.com/2015/02/report-gas-costs-rise-but-should-level-out/