Petroleum Analysts Say Gas Prices Could Move Higher in Upcoming Days

Feb 23, 2012

Some petroleum industry analysts say the higher prices on gas pumps in the region may not have hit their peak yet. Upward movement was reported during the day yesterday, with retail prices hitting $3.75 per gallon at several stations in Bowling Green. analyst Patrick DeHaan predicts the upward pressure could continue through the end of the week.

DeHaan says a refinery fire in Washington state has boosted prices significantly on the west coast and rising spot prices in the Great Lakes area are also having an impact. DeHaan's gas price tracking web site predicted earlier this year that retail gasoline prices could approach the four dollar per gallon level by Memorial Day this year.

News reports from Florida indicated that some stations in that state were charging $5.89 per gallon yesterday.