While I think the drum has been beaten to death, it's time for another warning of increasing prices that we're likely to see the next week or two. Gasoline prices are poised to climb in much of the United States, Canada, and even the Midwest- an area that had seen the lowest prices this week. This coming as the U.S. dollar weakens (albeit a very slight amount) and a key manufacturing report showed the economy accelerating.

Oil prices had advanced to nearly $77 mid-afternoon, while wholesale gasoline prices tacked on 7-cents per gallon to stand over the psychologically important $2/gal mark. The 4% increase in wholesale prices likely mean retail prices will rise as early as this afternoon.

Colder weather is also in the forecast for much of the Eastern United States, which would likely prompt many homes to increase their demand for heating oil, adding to the bullish sentiment on the Commodities Exchange today.

Seeing such increases today doesn't necessarily mean that this is the start of a long term run-up in prices, but it does mean retail gasoline prices are going to increase. We aren't going to see a huge increase at first, but as saving money is our motto here at GasBuddy, I'll tell you that you likely can save money filling up sooner rather than later.

Gasoline prices may also jump in the Midwest this week, an area dominated by mega-chain Speedway. The tactics at Speedway usually result in an increase far beyond the increase in wholesale prices, so a hike of 25 to 35 cents would not be surprising if wholesale prices continue to climb sharply this afternoon.

Another key ingredient to rising gasoline prices will be the DOE report, which will be released on Thursday due to Presidents Day. It may either slow down a rally or accelerate it- let's hope it's a good report.