Gas Prices Could Start to Climb Soon

(Undated) – It’s been a relatively quiet week for the national average price of gasoline, with little overall movement. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, while gas prices haven’t shifted significantly yet, oil prices have climbed to their highest level since October, driven by President Biden’s new sanctions on so-called dark vessels, which have slowed countries like Iran’s ability to sell oil. This could soon lead to more noticeable increases in gas prices. De Haan says seasonally weak demand may help soften the impact of any increases for now, but with refinery maintenance season just weeks away, when refiners typically reduce gasoline production, motorists should be prepared for the spring rally to kick off. The current national average price for a gallon of regular unleaded is $3.07.