Michigan Gas Price Hike Alert 1-06-2011 - WNEM TV 5 Michigan Gas Price Hike Alert 1-06-2011

Motorists filling up their tanks around Mid-Michigan may see an unpleasant surprise at the pump, according to
The price for a gallon of regular self-serve gasoline is likely to increase to $3.15 to $3.19 throughout Michigan, Indiana, Ohio, and Kentucky on Thursday.
For some gasoline stations this will mean increasing prices as much as 20 cents per gallon compared to prices earlier this week.
"The rise in gasoline prices is due to falling margins. We've seen retail prices dropping the last week and a half while wholesale costs have moved slightly higher," said GasBuddy senior petroleum analyst, Patrick DeHaan.
DeHaan explained that he expects prices to remain between an average of $2.95 and $3.35 through February, before beginning to rise in March and April ahead of the summer driving season.
"We could see prices this spring surpass $4 per gallon in some areas as demand improves along with the economy," Dehaan said.
Meanwhile, crude oil futures prices ended lower on the New York Mercantile Exchange on Thursday. Prices fell $1.92 to close at $88.38 a barrel.
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