Gas Prices Approaching $4 A Gallon
HARTFORD, CT (WCBS 880) - The temperatures are low and filling up at the gas station will leave our bank accounts the same way.
Oil analyst Peter Beutel says he sees nothing on the horizon to lower gasoline prices.
Some of the big refineries are headed for maintenance and that will temporarily tighten.
Beutel says the seasonal demand months of March and April are just ahead, which could push gas prices over a significant benchmark.
“It definitely appears that we are going to be seeing that $4 posted more and more,” Beutel told WCBS 880 Connecticut Bureau Chief Fran Schneidau. “By May, we may see it for all octanes.”
Beutel says the big push behind the price increase has been the investment lure behind buying commodities like oil and gold as an inflation hedge.