What's behind rising gas prices across West Michigan?
(NEWSCHANNEL 3) - You probably noticed you are paying more to fill up your car, and gas price experts say it is only going to get worse.
Gas is hovering just under $3/gallon here in West Michigan. Prices at the pump are about $0.50 more compared to last year, after a $0.20 jump in just the last month.
Jeanette Casselano, with AAA, said there are several reasons for rising prices at the pump.
- People are driving more, which is affecting supply and demand
- Refineries produce more expensive gas blends in the summer.
- Oil prices are up and expected to go higher since President Trump announced new sanctions against Iran, which produces a lot of oil
"The reinstatement of the sanctions are likely going to drive crude prices up which in turn will mean higher gas prices this summer," said Casselano.
AAA said we can expect another $0.20 increase in the coming weeks.