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Gas prices up, staying up in near future

Posted at 5:35 PM, May 09, 2016
and last updated 2016-05-09 19:35:00-04

Gas prices appear to be staying up.  With a little over two weeks to Memorial Day weekend, gas prices have been going up dramatically over the last month, with no sign of coming down anytime soon. 

Sources say average gas prices are up 45 cents per gallon, now at $2.46/gal.  That's up .47/gal since just over a month ago.
 
Analysts say prices could go up as much as another fifteen cents per gallon in the next few weeks.

Those prices have at least three major factors affecting them according to industry analysts GasBuddy.com.

"There's a decision not to run on the part of the refineries as hard during the spring time due to annual maintenance," said Will Speer, Sr. Petroleum Analyst. "The crisis in Boise started in Mid March. That's partly due to crude prices also."

Speer says that with Memorial Day weekend in a few weeks, the increased demand will not help to lower gas prices, but the refineries being more productive after their annual spring maintenance phase would help curb further increases.