"An overall increase is not abnormal for this time of year," said Bob van der Valk, a fuel-pricing analyst with 4Refuel Inc. in Lynnwood, Wash. "It will follow a similar trend, just starting at a lower price than 2008 did."He also cited recent refinery fires in California, Pennsylvania and Illinois, curtailing supply, as a reason for the current spike.
The national average price for a gallon of regular unleaded gasoline increased Friday to $2.391, up 2.9 cents in a daily survey compiled for motorist group AAA. That's the 24th consecutive increase, during which the price of gas has increased 34.3 cents, or 16.7%. All 50 states and the District of Columbia have regular unleaded gas prices of $2 and higher.
But the surge in prices is somewhat relative. The average price is down 38% from the $3.831 per gallon AAA reported one year ago. And it's down $1.72 or 41.8%, from the record high of $4.114 set last July 17.
Gas prices could increase to $2.41 this weekend, said Tom Kloza, publisher of Oil Price Information Service.
"That would be an astounding 50% increase from November," he noted. "We have never seen a similar percentage increase from winter to spring."
As a result of the comparatively lower prices, van der Valk said he expected Americans will drive more this summer when they take time off.
That wasn't the case last year, when prices at the pump were volatile. Soaring prices curtailed travel, and by July 17 gas prices had risen already 35% year-over-year. CNN
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