Gas prices expected to rise
Some people thought that gas prices might go up.
Gas prices will be higher this spring and summer than last year, and news of any developing hurricanes and tropical storms could send them rising more late this summer, a federal government report said today.
Guy Caruso, who heads the Energy Information Administration, predicted today that gas prices will rise by another 10 to 15 cents a gallon over the next few weeks before leveling off in May.
Today’s report from the statistical arm of the Energy Department, predicts that gas prices will rise 10.5 percent, on average, this spring and summer across the United States.
The agency attributed the price hikes to higher crude oil prices, greater demand by consumers, instability in oil-producing regions, costly environmental regulations for producers and only modest increases in oil production — reasons the industry also has given.
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