Time is Running Out for a Fall in Gas Prices

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(Undated) – Gas prices continue to climb amid refinery issues. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, last week, the rise in gasoline prices continued, still due to previous refinery outages caused by the cold weather the week of Christmas. De Haan says he is optimistic that as refiners get back online, we could see the increases slow. Furthermore, De Haan says prices are unlikely to hit record levels like in 2022 but 2023 could be rough.

De Haan says the window of opportunity for a decline in prices is shrinking. He says by late February or early March the seasonal rise in gasoline prices will begin. The current national average is $3.25 a gallon. It’s $3.39 in Illinois and $3.23 in Indiana.