Gas price hike 3 months before summer season starts

8:23 PM, Feb 7, 2013   |    comments
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It sure doesn't feel like summer, unless you're at the gas pump. Gas prices already started to increase a few months ahead of the summer driving season. So, what's the reason behind the price hike?

Analysts say there are 2 reasons: Oil prices are rising and refineries are shutting down. Oil prices jumped 10 percent over the last two months.

The rise in oil prices, according to analyst, is partly because the economy is improving. Americans are buying more homes and job growth is steady, even other countries are seeing a boost.

The average price of a gallon nationwide is $3.53 cents, according to AAA. In Ohio, we're paying a little more, around $3.60 cents a gallon.

Check out lowest Cleveland-area/Akron-area gas prices 

The good news is, those same analysts say gas prices shouldn't be as high as last year.

Thanks to an oil and gas production boom on American soil, they expect gas prices to top out between $3.50 and $3.90 a gallon.


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