Gasoline demand expected to rebound in weeks ahead
JONESBORO, Ark. (KAIT) - Despite a slight dip in the last few days, analysts predict demand for gasoline will rebound in the coming weeks.
According to GasBuddy.com’s daily survey of 1,826 stations, Arkansas gas prices remained relatively unchanged.
The average price for a gallon of regular unleaded rose just 0.4 cents in the past week to $2.68.
Gas prices are 0.6 cents a gallon higher than a month ago and $1.25 higher than last year.
The national average also rose 0.4 cents to $2.87/gallon.
“Last week saw limited upward movement in gas prices, tying the previous high water mark we last saw in March, signaling that perhaps we may see additional upside as most states in the nation have finished the transition to EPA-mandated summer gasoline,” said Patrick De Haan, head of petroleum analysis for GasBuddy.
While gasoline demand dipped for the third straight week, according to GasBuddy’s data, he said it was a “small decline.”
“As temperatures continue to warm ahead of summer, it wouldn’t surprise me that demand will rebound in the weeks ahead,” De Haan said. “We could continue to see gas prices push higher.”
For now, he does not expect prices to rise significantly.
“Motorists shouldn’t be too concerned at this point,” he said. “But [we] may see average prices inch higher.”
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