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Analyst: Gas price hikes driven by improving stocks

 
Analyst: Gas price hikes driven by improving stocks
Posted Monday, May 6th 2013 @ 7am  by WTVN Newsroom

COLUMBUS, Ohio (WTVN) --An oil industry analyst says the recent strength in stocks has trickled over to commodities.

Patrick DeHaan, Senior Petroleum Analyst at GasBuddy.com, expects gasoline prices to inch up in the weeks ahead. 

DeHaan says the biggest increases will be along the West Coast where gasoline supply remains at an ultra-tight status, but "prices will also increase in many other areas, led higher by the rally in crude prices", DeHaan said.

ColumbusGasPrices.com says the average price for a gallon of regular around central Ohio rose 4.9 cents in the past week to an average of $3.70.

This compares with the statewide average of $3.68, up 12 cents from last week, and a national average of $3.51, a penny a gallon more than a week ago.




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