Posted in: Gas Prices,
by Patrick DeHaan on Apr 11, 2011 12:46 PM
Gasoline prices have continued to rise in the last week, at a faster pace than prior weeks, although not quite as fast as they did after the start of the Libyan crisis.
The national average has risen to $3.75, a rise of nine cents per gallon just in the last week as supply of gasoline continues to drop ahead of the all important kick off to the summer driving season, Memorial Day.
Prices this week in the United States and Canada will likely continue to rise as retail prices catch up to increases in the wholesale cost of gasoline that stations pay.
By next Monday, average prices in the United States could rise to $3.82 per gallon while prices in Canada rise to 129c/L.
Motorists likely won't see any break at the pump for at least several weeks as gasoline inventories continue to drop as refineries perform maintenance. The only hope will come after the kickoff to the summer driving season when prices may moderate 10-30c/gal into June.