A combined increase in demand coupled with a global decision to continue to limit production means we can all expect to be paying more at the pump later this week. Patrick DeHaan is an analyst at GasBuddy.com.
“We are at risk, very high risk to see an average price of $3 a gallon come across Michigan perhaps in the next few weeks,” says DeHaan. “That is something that we could see stick around most of the summer without a meaningful increase in oil production.”
DeHaan says oil production globally remains down over three million barrels a day, leading to the increased prices. Last year at this time we were paying about $2.19 a gallon for gas.
