Tuesday, May 21, 2013

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Rising gas prices
Posted: 08.13.2012 at 11:43 AM
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Another week of gas price hikes across the country is leaving many wondering if there is any relief in sight. An onslaught of refinery issues continues to be the main cause in this current price hike.

“Gas prices have seen a pretty big jump. A lot of refining issues occurring. We have also seen oil prices rise to near $93 a barrel. There is a little bit of everything going on right now. A lot of it really has to do with refineries shutting down here in the Midwest,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

While refinery problems are temporary, the drought could cause more long term issues, slowing the downward trend in prices come this fall.

Across the heartland, prices gained nearly a cent a day over the last week.

Missouri saw a seven cent increase to an average of $3.60. Iowa saw much of the same with an increase of nearly nine cents a gallon with the average jumping to $3.65.

This compares with the national average that went up nearly six cents to an average of $3.67.

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