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Posted: Tuesday, 26 November 2013 7:49AM

Gas prices up again



As expected, gas prices continue climbing.  But the reason why may not be what you expected.

"Really nothing to do with the holiday," said gasoline price analyst Patrick DeHaan of the website gasbuddy.com.  "More to do with refinery issues that developed over the last week."

DeHaan says unexpected maintenance issues at several refineries on the coast is what drove the prices up, not so much Thanksgiving travel demand. In fact, DeHaan suggests the run-up in prices may be peaking right now.

"Prices should start to fizzle out here any time and they may actually go down slightly towards next week," DeHaan said, noting it all depends on when a filling station last stocked up on its supply: "If a station had already jumped its prices, it's possible that they throttle back, whereas, if a station hasn't really changed it's price a whole lot in the past week, you may see them adjust their price higher."

Around New Orleans today, gasbuddy.com's average for a gallon of regular octane as of mid-Tuesday morning was $3.10, up from their average of $2.99 last week.

 

Filed Under :  
Topics : Business_Finance
Locations : New Orleans
People : Patrick DeHaan
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