Cleveland gas prices likely to continue climb

CLEVELAND - Gas prices are at a historic high for February, and it doesn't look like that is going to change any time soon.

The average price in Cleveland rose 12.3 cents per gallon in the past week, averaging at $3.81, according to GasBuddy.com . That compares with the national average at $3.71.

Gas prices in Cleveland are 36.6 cents per gallon higher than the same day one year ago and are 52.5 cents per gallon higher than a month ago. The national average has increased 42.2 cents per gallon during the last month and stands 16.7 cents per gallon higher than this day one year ago.

"The steady climb of retail gas prices is likely to continue following double-digit increases in wholesale prices with fuel production tightening in the majority of the country's refineries," said GasBuddy.com Senior Petroleum Analyst Gregg Laskoski.

While prices are usually at their lowest point of the year in the winter, that was not the case this year because of rising crude oil prices (from $89 to $97 per barrel since New Year's Day), and refinery shutdowns for maintenance and the switchover to more expensive summer blend fuel (which starts on Feb. 1 in many states).

However, the U.S. Department of Energy still predicts that this summer's gas prices will be lower than last year's.  They won't be, however, if if they continue rising at this rate.

For the lowest gas prices in northeast Ohio, check Gas Buddy's gas price page on newsnet5.com.

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