Cold weather forcing refinery shutdowns, attacks on commercial vessels in the Red Sea and good economic news are behind the recent increases in gas prices.
And, bad news: this is just the beginning.
“While prices have inched up and may continue to slowly rise, I believe the larger increases will be witnessed in a few weeks as we enter mid-February, lasting through April or May, during which the national average could rise 35 to 85 cents per gallon,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“Other issues and tensions could complicate how quickly prices rise or how high they go, so while the rise is not completely charted, it could deviate from our expectations,” De Haan said.
Virginia drivers are paying 6.2 cents per gallon more on Monday, with the average at $3.02 per gallon, than they were a week ago, according to GasBuddy, which pegs the increase nationwide at 4.5 cents per gallon, with drivers paying an average of $3.07 per gallon across the U.S.
The national average price of diesel has fallen 0.5 cents in the last week and stands at $3.87 per gallon.
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Chris Graham
