Expert Says Gas Prices Could Be Worse
Prices as the gas pump have risen but one expert says things could have been worse for consumers.
Patrick DeHaan, Senior Petroleum Analyst with Gas Buddy dot com, says gas prices tend to rise in the spring because of a different type of gasoline blend that is used in the warmer months as mandated by the EPA. That blend is more expensive to produce. DeHaan also says typically, oil refineries go off-line for maintenance in the spring which causes higher gas prices.
"This year, the situation's a little bit different. There's not as much demand so, you know, in the last week or so, as reported by the Energy Information Administration, refineries have actually continued to produce quite a bit of gasoline."
DeHaan says the refineries staying open coupled with a weak jobs report released last week is causing wholesale gas prices to tumble. He says while he's not 100-percent certain, it seems as if gas prices may have peaked for the season. DeHaan adds that while that could be the case, anything can happen with gas prices.