Gas Prices Rise Again - Morning Business Memo
There's more pain at the pumps for motorists as the price of gas continues to go up. The switch over from winter to summer gas is coming in most states at the beginning of April. Tom Kloza of the Oil Price Information Service tells ABC News Radio that more price hikes are in the pipeline.
"They're about 20 cents higher and that's not reflected at the pump yet because those deliveries haven't taken place," he said.
Kloza says that by next month motorists will be paying more than $4 a gallon in most states. "I also believe that's probably where we'll see prices peak, between $4, $4.10 or $4.15," he said.
A separate forecast from gasbuddy.com calls for prices to peak at about that level in May. Most analysts say unless there is a military conflict with Iran, gas prices mighty start coming down in the summer and fall.
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