Experts: Expect more pain at the pump for the next few months
In case you haven’t noticed, you are feeling more pain at the pump lately. Gas prices have gone up over the past couple of weeks by about ten cents a gallon. Gregg Laskoski of Gas Buddy says the fiscal cliff debate had something to do with it.
“We saw wholesale prices go up. They responded to much of the uncertainty concerning the fiscal cliff that pushed crude oil prices higher,” Laskoski told KTRH.
But Oil analyst Phil Flynn doesn't expect to see prices skyrocket the way they did last year.
“Last year we had a record high price for gasoline. I think as we go into the New Year I doubt those prices are going to be as high. As bad as it was last year I think it’s going to be a lot better in the upcoming year,” Flynn said.
However, Laskoski says they are going to continue to rise over the next few months.
“Once we get into February and March, that’s when the refineries have to take care a lot of the maintenance issues that are necessary before they can even begin producing the summer blend gasoline and that’s what always causes the annual run up every year,” Laskoski explained.
How high will the prices go? Flynn has some good news for you on that front.
“I’m looking for a ten to twenty cent rise. And then hopefully we’re going to level out and see a year of prices that will actually be lower than what we saw in the previous year,” Flynn said.
The average price for a gallon of gas today in Houston is $3.19.