Gasoline prices have spiked considerably higher in virtually every area over last two weeks.
Patrick DeHaan — senior petroleum analyst with GasBuddy.com — tells us he expects that pace to continue.
“Houston has only seen prices rise 18 ¢ in the last month, and they may see a continued rise in price; although, I wouldn’t expect it to be more than say, 5 or 10 ¢ a week at a time. We will likely see Houston prices continuing to climb in the next week or two. The pace will likely be at or just slightly above the pace we’re seeing — where prices are increasing just a few cents a week.”
He adds that the insatability in the Middle East is an X-factor that will be with us. Gasoline prices are 17¢ higher than last month, but more than 18.5 ¢ higher than this time a year ago.