Gas Prices See “Modest Increase”

(Undated) — The national average for a gallon of regular unleaded saw “a modest increase” over the last week. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, storms temporarily knocked the Midwest’s largest refinery offline in Indiana, triggering sharp jumps in gas prices across Ohio, Wisconsin, and Michigan. He says we could soon see prices cycle higher in Illinois and Indiana as well, although there’s been some “late-week relief” in wholesale prices now that the refinery is restarting. De Haan says, meanwhile, Florida saw the nation’s largest weekly decline, but a rebound due to price cycling is likely on the horizon. He says all of this is playing out while oil prices remain relatively stable in the low $60s. De Haan says with no major hurricanes threatening the U.S. at the moment, the biggest wildcard remains any shifts in Russia’s war on Ukraine. He says for now motorists should expect only moderate gas price fluctuations, with the potential for lower prices arriving later this fall.