GasBuddy analyst: Blame price cycle for latest rise in area gasoline prices - WHIO

Gasoline prices at the pump in the Miami Valley have jumped again, many above the 3-dollar mark for regular grade, and it’s mostly the result of a price cycle, the head of petroleum analysis for GasBuddy said Wednesday.

>> WHIO Pump Patrol: Find Cheap Gas Prices

Prices of regular grade gasoline have been falling more than four weeks, which GasBuddy analyst Patrick De Haan told News Center 7′s Brandon Lewis.

When prices fall as they have, gas stations will eventually have to raise their prices again to avoid losing money.

What’s the outlook for the rest of this summer?

“By and large, I think we’ll continue to see prices bouncing around every couple of weeks,” De Haan said. “We will see a big jump but then prices after today will start inching back down.”

>> RELATED: Gasoline prices were on the increase in January | Here’s why

The jump in gasoline prices is noticeable as it is occurring as inflation has reached its lowest point since early 2021. At this point a year ago, gasoline prices were about a dollar and 50 cents more than they are now.

©2023 Cox Media Group

Adblock test (Why?)

from "price" - Google News https://ift.tt/TGH2FdM
via IFTTT