West U Area Gas Prices Rose 1.8 Cents Last Week, More Increases Predicted

The average price for a gallon of unleaded gasoline rose 1.8 cents in the West U area last week, and one prominent analyst said he expects to see prices to continue to rise.
The average price now stands at $2.52 per gallon.
The local price compares with a national average that increased 2.1 cents per gallon in the last week to $2.72 per gallon, according to gasoline price website HoustonGasPrices.com.
Including the change in gas prices in West U during the past week, prices yesterday were 31.3 cents per gallon higher than the same day one year ago and are 7.9 cents per gallon higher than a month ago.
The national average has increased 2.9 cents per gallon during the last month and stands 26.9 cents per gallon higher than this day one year ago.
“Last week we saw oil prices surpass $80 per barrel after a government report indicated a larger than expected drop in petroleum supplies. Combined with other positive signals from the economy, oil prices spiked and motorists should expect retail gasoline prices to move higher in the coming days as a result,” said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. “Most areas across the U.S. will see gasoline prices rise this week, anywhere from a few cents per gallon to a dime or perhaps even more.”
DeHaan also said he expects high volatility in retail gasoline prices this autumn as the U.S. economy continues to improve, signaling higher demand for refined products, such as gasoline and heating oil.