PHILADELPHIA (WPVI) -- Gas prices are back on the rise once again across the Delaware Valley.
In the Philadelphia metro area, it is $3.67, up 23 cents over the last month.
In South Jersey, it's $3.41, up 26 cents. And in Northern Delaware, you are paying $3.55, up 63 cents from a month ago.
"That Arctic blast that hit us in late December, it caused a lot of issues at refineries that were subject to extremely cold weather, causing some unexpected disruptions," said Patrick De Haan with Gas Buddy.
He says when refineries have issues like that, it hampers the ability to produce gasoline. In addition, overseas activity has an effect on global supply and demand.
"China announcing after three years it's going away from Covid-Zero and reopening its economy, that's pushed demand up significantly. Then you have Russia's continued invasion of Ukraine, which has pushed the EU to new sanctions on Russia that are effective February 5 -- lot of nervousness in the market."
And while De Haan doesn't anticipate seeing $5 a gallon of regular gas like we did last summer, he doesn't see the prices coming down much.
"There probably won't be much of a break...I think the overall trend is going to be to the upside for the next few months," he said.
But here are some tips to save.
De Haan says it's best to fill up earlier in the week because he says energy markets are closed over the weekends and there is a key government report that comes out Wednesdays that can drive prices higher just in time for the weekend.
Copyright © 2023 WPVI-TV. All Rights Reserved.
"gas" - Google News
January 27, 2023 at 07:54AM
https://ift.tt/yFl3K21
Why are gas prices back on the rise? Expert weighs in - WPVI-TV
"gas" - Google News
https://ift.tt/VJYKGsL
https://ift.tt/WuCedNG
Bagikan Berita Ini
0 Response to "Why are gas prices back on the rise? Expert weighs in - WPVI-TV"
Post a Comment