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PRICE SPIKE: Gas Prices On The Rise

Posted on: 7:26 pm, May 15, 2013, by , updated on: 07:39pm, May 15, 2013

gas prices

If your car is getting low on gas this week you’re going to pay the price at the pump. Gas prices jumped an average of $0.19 across the state according to GasBuddy.com.

Analysts say besides the usual summer months price increase, states in the Midwest are being hit particularly hard for three reasons; low inventory, maintenance at certain refineries requiring extra gas to be sent to the Great Lakes region, as well as plans for an Oklahoma refinery to remove some production.

GasBuddy says drivers can expect the prices to jump again in the coming days, but the prices will not remain at these levels for the long term.

Prices had been on the downward trend the last few weeks. Just one month ago Iowa drivers were paying $3.45 per gallon, on Wednesday prices were hovering around $3.75.

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