When $4 per gallon gas may return

When $4 per gallon gas may return

(NewsNation) — Don’t look now, however gas costs are heading again up, and GasBuddy predicts the nationwide common may hit $4 once more in a few months. The value for a gallon of standard is up more than 13% nationally over the previous month.

Some states have seen costs improve by practically $1 per gallon this month alone.

Just six weeks in the past, the nationwide common was hovering round $3 per gallon.

Since bottoming out at that value, gas costs have steadily climbed. The present common is simply shy of $3.50 per gallon, and no states are immune from the worth hike.

Fifteen states now have averages above $3.50 per gallon, up from solely six states final month. And now, not a single state is averaging underneath $3.10 per gallon.

Industry analysts say it isn’t demand fueling the rise, however fairly the winter climate.

“It all began in late December because of an arctic blast that hit a lot of the nation, all the way in which down into Texas,” GasBuddy analyst Patrick De Haan informed NewsNation affiliate WNCT. “The extraordinarily chilly climate triggered tools failures at refineries, so because of this, gasoline manufacturing was disrupted.”

Warmer climate gained’t essentially imply decrease gas costs, although. Prices usually rise in spring as refineries swap to summer-grade gasoline.

GasBuddy mentioned that would imply a return to $4-per-gallon gas as quickly as March.

De Haan additionally cautioned {that a} dip in demand is unlikely, even when Americans balk on the rising costs.