GasBuddy: Prices Likely to Trend Higher in Coming Weeks

You may see prices at the gas pump trend back up in the weeks ahead. GasBuddy's Head of Petroleum Analysis Patrick De Haan explains:

“Average gasoline prices continue to drift higher as crude oil trades near its highest level since last summer, driven by mounting geopolitical risk premiums tied to escalating tensions between the United States and Iran.While there has been no direct disruption to energy infrastructure, markets are increasingly pricing in the possibility of a broader exchange that could threaten supply flows. Beyond geopolitics, we’re also seeing localized supply constraints, including refinery outages and disruptions along the Olympic Pipeline, which have amplified price pressures in the Pacific Northwest. These developments are unlikely to be isolated, as planned refinery maintenance is set to intensify in the weeks ahead. As seasonal supply tightens, the national average is increasingly likely to retest the $3-per-gallon threshold.” -Patrick De Haan