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Gas Prices Lower, But Price Spikes May Be Ahead [POLL/AUDIO]

Gas prices have been drifting lower lately, and we may have already seen the high price for this year, but it doesn’t mean we won’t see price spikes.

Gas Prices
Joe Raedle, Getty Images

Right now, there is what some expert call, “relative stability” in the Middle East. Here in the United States, most refineries are not experiencing any major problems.

“By the time that people are thinking about shore travel, I think, the fear about any kind of significant price increases will vanish, and then it will reappear when you get hurricanes threatening the Gulf or the East Coast,” ‘Gas Buddy’ Chief Oil Analyst Tom Kloza says.

Lowest Gas Prices in New Jersey
New Jersey Gas Prices provided by

Kloza says the late February National high of $3.80 per gallon may be the high for 2013. He says Jersey prices are in the $3.40’s right now, but Kloza says prices will drift higher as the so-called summer formula kicks in. He suggests there may be some fluctuations of up to 20 cents for a gallon price before things settle down.

Kloza says gas prices in this early part of April are about 30-cents-a-gallon lower on average than they were at this time a year ago.


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