Expect Higher Gas Prices This Summer
PHILADELPHIA (CBS) -- Gas prices are edging up a bit in the Delaware Valley, and that trend's expected to continue throughout the summer.
Tom Kloza, Global Head of Energy Analysis for the Oil Price Information Service, says -- 'tis the season.
"One thing you can count on every year is that gas prices will go up in April, and a lot of people think their baseball team has a chance to win the world series," he said.
Kloza says we're seeing the results of Opec's production cutback, leading to higher crude prices.
"For every $10 that crude prices go up, it raises the raw cost of gasoline about 24 cents," he explained.
Another factor, the switch to more expensive summer gasoline blends.
Kloza expects the national average to range between $2.60 and $2.85, your mileage may vary, but doesn't expect it to keep people at home.
"It's gonna be busy on the roads, and we're gonna pay a little bit more for the fuel this summer," said Kloza.
