Sharp Rise In Gas Prices Likely This Weekend
Wednesday, February 22, 2012 4:05 pm
Chicago, IL February 22 - Motorists should be aware of the likelihood of a sharp rise in gasoline prices in the next few days and through the weekend in Tennessee.
"I expect stations to increase prices as much as 5-20 cents per gallon by the conclusion of the weekend with some stations starting to raise prices immediately," says Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst.
DeHaan warns that a refinery fire in Washington state is boosting prices significantly throughout the entire West Coast region, and rising spot prices in Great Lakes area is boosting prices 30-45 cents per gallon today in Michigan, Indiana, Ohio, Kentucky. Prices have also been reportedly rising fast in New England, Florida, and areas of the East Coast.
Gregg Laskoski, Petroleum Analyst also cites the refinery fire in Washington for an expected jump in California, saying "prices across the State of California already made significant advances in the prior seven days, and with the refinery fire, motorists should expect prices to rise in similar fashion as last February when the Libyan situation unfolded."