Gas Prices Forecast to Soar During Peak Summer Vacation Period

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Analysts are saying that it will soon cost nearly 10% more to fill up your gas tank. And wouldn’t you know it: The predicted spike in gas prices will coincide with the vacations of millions of Americans.

The national average for a gallon of regular gasoline, which has been hovering around $3.50, is expected to spike by 25¢ to 30¢ over the next few weeks, according to analysts cited by CNN Money and NBC News.

Wholesale prices of oil have surged over the past month, and these increases are inevitably passed along to consumers in the form of steeper prices at the pump. There’s some indication the price hikes have already begun, and it’s anticipated that per-gallon rates will keep rising by 1¢ or 2¢ daily, perhaps more.

“Short-term, we’re going to see the average go into the $3.60, $3.70 range,” said Tom Kloza, chief oil analyst at GasBuddy.com. “You’re looking at some markets that were closer to $3 a gallon, like the upper Great Lakes, and they’re going to go back up and be closer to $4.”

(MORE: Beyond the Keystone Pipeline)

According to the AAA Fuel Gauge Report, one year ago at this time, the national average was $3.38 per gallon, 14¢ less than the average as of Thursday of this week. If prices rise in July and August as experts anticipate, it’ll basically be a repeat of 2012, when prices dipped in early summer before soaring from mid-summer on. During one week in early August of last year, the national average rose from $3.53 to $3.66, apparently due to inclement weather and refinery issues.

Let’s at least hope this September doesn’t follow the pattern set last year. Prices at the pump were expected to decline once Labor Day had passed, and yet the opposite happened, with the national average topping $3.80 toward the end of September of last year. The 2012 end-of-summer surge, combined with previous pricing spasms, made it the most expensive year ever for gasoline.

(MORE: Back to School Sales Already? Kids Get Ugly Reminder School Isn’t Too Far Off)

Earlier this year, most analysts forecast that 2013 wouldn’t beat out 2012 for that dubious title. And yet thus far gas prices in 2013 have proven to be exceptionally volatile and unpredictable. So perhaps it’s time to cross your fingers, and hope that the latest prediction — that gas prices will increase sharply now and into August — winds up being wrong.

27 comments
JamesHoyt
JamesHoyt

Welcome to the land of GREED<GREED<GREED!

HOME2HOME
HOME2HOME like.author.displayName 1 Like

People, please don't by this bull.  Hedge funders, commodities investors, are scamming you again.   Stay home, team up, don't make unnecessary trips.  Let these guys choke on their oil and gasoline.  Pass it on.   Come on, you can skip something you want to do, it doesn't hurt, toughen up.  Test your wimpey selves.  Come on people...do it do it.

UleNotknow
UleNotknow

Regular for $3.08 in Troutville VA... $3.39 in NJ and $3.19 in TN this week. Great prices, but apparently not for long.

LindaAlcorn
LindaAlcorn

Last weekend we bought gas for $2.97 in Greenfield, IN. The next day it was $3.59. What the F*** is going on?

HugoSLaVia
HugoSLaVia like.author.displayName 1 Like

This story could be cut-and-pasted from one year to the next. At Memorial Day weekend. Ahead of summer vacays. 

Crooked bas.terds.

rabare
rabare like.author.displayName 1 Like

We can all complain and be negative. The fact is oil is a huge contributor to government campains.

We will never have a voice to effect gas prices.


Just a fact....


MetaphysicalPI
MetaphysicalPI

We should all have electric, or hydrogen fueled cars by now.  We can thank the big oil industry, and it's corporatist influence around the world for being held hostage by gas!

allenwoll
allenwoll

@MetaphysicalPI 

You rave ! ! : NEITHER hydrogen NOR electricity are PRIMARY sources of energy : They MUST be manufactured from coal, natural gas, oil, hydro, nuclear, solar, wind, tide, geothermal, ocean-thermal, biomass, hand or animal-crank, etc (Have I missed any ?).

.

Together, electricity and hydrogen represent only a means of storing and transporting energy obtained from primary sources such as those listed above. . Therefore they play NO decisive role in basic energy issues. 

.

FrankDebiase
FrankDebiase like.author.displayName 1 Like

its called , stick up our rear ends once more. theres no shortage or the new bull crap saying storms affected drilling sites.how about drilling over here and screw the middle east.

cchilelli89
cchilelli89 like.author.displayName 1 Like

I say once every couple of weeks we all come together and make an agreement that we wont pump gas on a certain day causing these criminals to feel our pain.

perisoft
perisoft

@cchilelli89 Shifting your purchase by a few hours would have little effect on the retailers and zilch on the refiners. Unless you actually forego some amount of consumption entirely there's no net effect to the criminals' coffers.

It's easy to complain self-righteously, but so far, people by and large have indicated with their wallets that they're willing to tolerate the status quo. If you're not willing to pay the extra money and suffer the range compromise of an electric car, not willing to sacrifice the location flexibility and options of a vehicle, and not willing to drive a 25-year-old Mercedes diesel that some crazy dude converted to run on vegetable oil, then, well, you'll have to pay your four bucks a gallon.

And if you're not willing to drive 10% less to 'stick it to the man', preferring instead to rail on the internet about how if only *everyone* could do something useless *at once*, pronouncing the situation impossible, and continuing as you were, then the 'criminals' you mention are unlikely to suggest to their shareholders that they take a financial hit out of the goodness of their hearts. They've gotta pay for their gas too, you know...

ScottSlater
ScottSlater

prices here jumped 44 cents today just bull crap, getting to where cant even afford to do anything so buying less gas like others, You would think keep it low and sell more

HOME2HOME
HOME2HOME

@ScottSlater they don't want to sell more!  they want to sell less and charge more.  strike profit takers, refiners, oil companies.   cut back on driving, make a choice to get shafted or fight.  do it do it do it    pass it on

gorda9187
gorda9187

Guess the gas companies didn't get enough profit at prices that the public can live with.  It's really a shame that the price of gas changes almost daily and for no apparent reason.  We should be looking to the USA for our gas and not depending on the Arab nations to supply us.  We could even try Mexico which is a neighbor and has petroleum supplies.  Relying on gas/oil from countries that far away is ridiculous when we have gas/oil beneath our own land and Mexico is a border country, a neighbor.  We have to stop these CEOs and big oil companies from bleeding us dry.

1xsteven2x1
1xsteven2x1

and @gorda9187  you do notthink thast the american oil companies would not such your pocet book dry if we only bought american produced fuel...wake up from our dream.....we are being gouged from all sides of the continents....we must stop all subsidies to oil co's and if i had my rather i would rather that we nationalize something as important to our national security and the countries transportation needs....our real production is being cut dow by high fuel cost....

JimB210
JimB210 like.author.displayName 1 Like

So at the same time usage is falling and oil production is at a new high, and we are exporting refined products, the US consumer will pay more because of the global pricing of gas in US dollars. Maybe we need to consider a 'produced in the USA, sold in the USA' market, since we're on the way to being a net exporter of fossil fuels. We can charge China, India and the rest of the world the 'market price' while not allowing their high bids to empty our pockets. Or perhaps we need some truly USA based "energy" companies that aren't maximizing profits at the expense of every nation in the world. These multinational corporations exist at a level above any country, playing off nations against each other for tax shelters, gaming the laws of any nation while obeying only the deity of profit above all.

RichardBaker
RichardBaker like.author.displayName like.author.displayName like.author.displayName 3 Like

It is odd when Oil drops in price it takes 30 days to see it at the pump. But when they go up you see prices soar over night

StevenManson
StevenManson like.author.displayName like.author.displayName 2 Like

They must have lost a some profits with the electric cars....god forbid they lose ANY profits.  Wish we'd band together and shove back

HOME2HOME
HOME2HOME

@StevenManson  don't buy gasoline.  let them choke on it.  skip some trips.  do it do it do it

whiskeyluvr
whiskeyluvr like.author.displayName like.author.displayName 2 Like

And they will still brag about record profits! They could lower the price to $2.00 a gallon and still make record profits..It's all greed.

HOME2HOME
HOME2HOME

@whiskeyluvr  Get mad, cut back, skip trips,  do it do it do it.  pass it on.  strike gasoline refiners and profit takers.

mrxexon
mrxexon like.author.displayName like.author.displayName 2 Like

How many decades have they been doing this to us?

I say buy an electric car and do it to them.


x

HOME2HOME
HOME2HOME

@mrxexon  are you going to let them keep it up?   they are laughing at us.  skip trips, cut back, do it do it do it.  Pass it on, get mad.