How high could gas prices rise by spring? Expert weighs in

DAYTON — Gas prices are on the rise again, and while they will likely go down some, it won’t be for long.

According to AAA, the current average for a gallon of regular unleaded gas in Dayton is just over $3 on Wednesday. On Tuesday, it was $2.88. Compare that to a week ago, where the average was $2.69. Gas is up 32 cents in just one week.

“The wholesale price of gasoline has jumped over 50 cents a gallon since Christmas,” said Patrick De Hann, a petroleum analyst with GasBuddy.

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The big reason for the jump is the arctic freeze around Christmas that shut down nearly a dozen refineries.

“Some of those refineries are still not back online and that’s why the problem has lingered,” De Hann said.

Prices are expected to go down over the next couple of weeks, but they’re also expected to ramp up again in the spring.

“We expect starting in late February gas prices will start to rise and by Memorial Day we could be back over to the $4 a gallon mark

De Hann says gas prices always go up in the spring and summer because of increased demand and the change to summer blend.

Although, he does have some good news. De Hann says they are not expecting the record prices seen in 2022.

If you want some help finding the cheapest gas near you, you can visit our Pump Patrol webpage.

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