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Gas prices expected to surge again soon

Posted By admin On July 12, 2013 @ 5:25 am In Money Watch | Comments Disabled

Gary Strauss
July 12, 2013

Gas prices are heading up again.

Rising crude oil prices and a fall in U.S. supplies are driving wholesale gas prices up sharply. That has yet to be fully reflected at the retail level.

Prices at the pump — up 4 cents the past week to a national average of $3.52 a gallon — could climb another 15 cents or higher over the next two weeks. A year ago, the national average was $3.38.

“It’s getting ugly,” says Patrick DeHaan, senior analyst for GasBuddy.com. “First and foremost, the political problems in Egypt are driving crude oil prices, but there has also been a sharp drop in oil supplies the past two weeks. This is coming at a time when demand is at its annual July peak.”

Full article here [1]

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URLs in this post:

[1] USA TODAY: http://www.usatoday.com/story/money/2013/07/11/summer-gas-prices-heating-up-again/2508727/

[2] Gas prices hit $4 per gallon average across U.S.: http://www.prisonplanet.com/gas-prices-hit-4-per-gallon-average-across-u-s.html

[3] Food Prices Surge Most In 26 Years: http://www.prisonplanet.com/food-prices-surge-most-in-26-years.html

[4] Record-high Labor Day gasoline prices greet Democrats in Charlotte: http://www.prisonplanet.com/record-high-labor-day-gasoline-prices-greet-democrats-in-charlotte.html

[5] Food Prices Rising: Reaching Near Emergency Levels, Riots Expected: http://www.prisonplanet.com/food-prices-rising-reaching-near-emergency-levels-riots-expected.html

[6] Gas Prices Jump 4 Cents Overnight: http://www.prisonplanet.com/gas-prices-jump-4-cents-overnight.html

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