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Gasoline prices continue to climb, may get higher by summer, analyst says

Average retail gasoline prices in Utah have risen 8.1 cents per gallon in the past week, averaging $3.54/g yesterday.

This compares with the national average that has increased 3.8 cents per gallon in the last week to $3.75/g, according to gasoline price website UtahGasPrices.com.

Including the change in gas prices in Utah during the past week, prices yesterday were 16.8 cents per gallon higher than the same day one year ago and are 48.3 cents per gallon higher than a month ago.

The national average has increased 28.3 cents per gallon during the last month and stands 22.4 cents per gallon higher than this day one year ago.

"With a likely peak in gasoline prices still as much as two or more months away, the national average for a gallon of gasoline has already hit the bottom of the range that we projected back in January in our 2012 gasoline price forecast, which is quite concerning," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

"While the recent pace of

price increases has slowed somewhat, the spotlight will now shift to refining facilities as they start and finish maintenance. Any unexpected problems arising from such may cause prices to resume a quick climb," DeHaan said.




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