After Spring Swoon, Gas Prices Are Rising Again

Scott Detrow / StateImpact Pennsylvania

Gas prices declined this spring, but have been rising since early July

The average cost of a gallon of gasoline has increased by more than 30 cents since July 1. In this report for NPR, I take a look at the factors behind the increase, and whether or not prices will keep going up.

If you plot out a chart of 2012′s average gasoline prices, you get what looks like a roller coaster. There’s a steady increase from January to April, the spring peak around $4 per gallon, and then a steady decline in May and June.

By the beginning of July, the national average was hovering around $3.42.

But since then, that roller coaster chart has been heading into its second big climb. Prices have been going up since July 1, and are now approaching $3.80.

So, many drivers are now wondering if we should soon expect to pay even more — or if we’re near the peak.

Tom Kloza, chief oil analyst for the Oil Price Information Service, thinks it’s a short-term problem.

“This is something you’ll have to put up with for a few weeks, maybe more if you’re on the West Coast,” he says. “But certainly not in the majority of the country.”