“We’re going to get increases and they are going to be noticeable,” says Tom Kloza, chief oil analyst at Gasbuddy.com and the Oil Price Information Service. “We’re going to get that pop relatively soon.”
The price of crude oil has risen 8 percent over the past month, to $100 per barrel. And analysts expect fuel supplies to begin to decline as refineries dial back production to perform maintenance and make the switch to summer fuels.
Gasoline prices are already creeping higher. The nationwide average price has risen for seven days in a row to $3.34 per gallon, the highest level since October, according to AAA, OPIS and Wright Express. California, Connecticut and New York drivers are paying an average of $3.65 or more, the most in the lower 48 states. Montana and South Carolina drivers are paying $3.10 or less.
But the nationwide average is not expected to quite reach its high point of last year of $3.79 per gallon, set February 27, never mind the highs of $3.94 in 2012 and $3.98 in 2011. AAA predicts a peak of between $3.55 and $3.75 per gallon.
Gasoline prices are 8 percent lower