Petroleum Analyst says be ready for Three Dollar Gasoline
NORTHWEST INDIANA - Gas prices in Northwest Indiana have risen just under 9 cents per gallon in the past week, averaging $2.91 per gallon on Monday, according to GasBuddy's daily survey of 314 stations in the Region. Gas prices in Gary are just under 12 cents per gallon higher than a month ago.
According to GasBuddy price reports, the cheapest station in Gary is priced at $2.74 per gallon on Monday while the most expensive is $3.29 per gallon.
The national average price of gasoline has risen 0.7 cents per gallon in the last week, averaging $2.89 per gallon on Monday.
Patrick De Haan, head of petroleum analysis for GasBuddy said the nation's gas prices perked up again last week as oil prices advanced to fresh multi-year highs on Covid improvements overseas and the switch to summer gasoline, which is basically now complete.
De Haan said last week saw the national average hit its highest level in two years, and with continued recovery in gasoline demand, the increase in price is likely to continue into the future.
He added that Americans may now want to brace themselves for the possibility of a $3 per gallon national average in the weeks ahead, as demand remains strong as Americans take to the roads.