Gas prices up modestly in past week: Bigger increases to follow as weather warms up

Gas prices are heading up after a few months of decline, though the increases in the interim seem modest.

“We could see a brief ‘clearance sale’ on remaining winter gasoline in some pockets of interior states as refiners start to move these time-sensitive barrels out of the system. Motorists shouldn’t be fooled into thinking any drop in prices is a long-term trend, but rather a very short-term one. I expect any modest and temporary drops in prices will be replaced by pricier gasoline as we get closer to the start of spring,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which reported on Monday that the national average price of gasoline has risen 4.3 cents per gallon in the last week, averaging $3.12/gallon today.

Average gasoline prices in Virginia have risen 3.2 cents per gallon in the last week, averaging $3.05/gallon today.

Oil prices have risen to multi-month highs, so that’s partly responsible for the recent uptick in prices at the pump.

“While most states saw price increases, they were somewhat tame, though the trend will likely begin to accelerate towards the end of the month. For now, the most common gas price in the U.S. remains $2.99 per gallon, but its days are numbered,” De Haan said.