Photo by Jim Weber / AP
Gas prices are on the rise again, after several months of stable or declining prices. The national average is now $3.52 a gallon, a 17 cent increase in less than a month.
“More and more locations say prices are above where they were last year — and last year was the most expensive for motor fuel,” says Oil Price Information Service analyst Tom Kloza. Gas averaged $3.71 a gallon in July 2011.
The Midwest is particularly pinched. Refinery woes in Indiana and Illinois have crimped output, propelling prices to as high as $4.29 a gallon in Chicago and to near $4 levels in several regions of the Rust Belt.
“It’s been pretty lousy,” says Patrick DeHaan, senior energy analyst for price tracker gasbuddy.com. “In some states, there’s been a 40- to 50-cent increase.”