Gas prices continue to rise; experts expect prices to go down soon

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PEORIA, Ill. (WEEK) — Gas prices continue to rise slightly across the area last week.

Gasbuddy.com reports prices rose 1.3 cents per gallon to an average of $3.19/gallon. That is 15.5 cents per gallon higher than a month ago, and a $1.08 per gallon higher than a year ago.

Nationally, prices continued to go up, rising 6.4 cents per gallon in the last week to an average of $3.03/gallon. That is up 16.8 cents per gallon from a month ago, and $1.17/gallon higher than one year ago.

“The national average gas price surged last week thanks to big price jumps in Southeastern states due to the previously shut down Colonial Pipeline, but most areas outside that region saw smaller fluctuations,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With the pipeline now back in service, I expect prices to come down in the hardest hit states, specifically the Carolinas, Georgia, Tennessee, Florida and Virginia. The drops should lead the national average to soon fall back under the $3 per gallon mark, but motorists shouldn’t get too excited- prices may start to head higher in a few weeks should Memorial Day gasoline demand be red hot. In addition, motorists in the affected areas should see outage numbers continue to decline this week, especially early in the week when gasoline demand tends to be lowest. I’m optimistic that there will be enough recovery by Memorial Day for motorists in these states to fill up without having to search for gasoline.”

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