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There Go Gas Prices Again

There Go Gas Prices Again
Posted Tuesday, January 21st 2014 @ 3pm  by Chuck LaTour, WOOD Radio news team

In case you haven't noticed, gasoline prices are on their way up again. Senior Petroleum Analyst Patrick DeHaan tells WOOD Radio today's increase to $3.39 a gallon has nothing to do with cold or refinery problems.

"This is just one of the cyclical jumps that we see. Prices had gotten down to the point where gas stations were not making a profit and boom, prices spike back to profitability."

DeHaan says if there is any good news, consider how low west Michigan prices had dropped from the last price spike compared to the national average.

"The national average only dropped two cents in the last week. Average price drop in Grand Rapids was almost twenty cents to the point where stations were no longer making money. The price spike today is to fix that issue. Over the next few days prices will start to roll back down."

See prices at the pump at this link.

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