Rising Gas Prices Expected to Continue

(Undated) – Gas prices continue to climb nationwide. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, oil prices pulled them higher across the majority of the country. De Haan says macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new COVID cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. He says concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating.