Monday, September 17, 2012
Gas prices have risen five cents in the past week.
According to AAA, the average price of $3.87 per gallon is up 16 cents from a month ago and 24 cents from a year ago.
Prices normally start to decline after Labor Day, but a number of national and international factors have led to an uptick in the price of crude to a four-month high.
Among them are the tensions in the Middle East, the German bailout of the eurozone as well as U.S. refinery shutdowns due to Hurricane Isaac and for upgrading.
Expectations are for gas prices to start to decline and stay that way for a few months now that refineries have switched over from higher priced summer blend of gas to winter blend.