Gas prices spike with no end in sight
February 19, 2013 // 1 Comment 
The average price for a gallon of gasoline across the U.S. is up to $3.67 a gallon.
That’s an increase of 12 cents in the past week and 42 cents in the past month.
The cost to fill up the tank in Colorado is still lower than the national average. The average price for a gallon of gas in Colorado Springs is now $3.47 a gallon, up 72 cents since last month when gas cost $2.75 a gallon on average.
Oil analyst Patrick DeHaan, with GasBuddy.com, says the reason, as usual, is the rising price of oil.
DeHaan says he’s surprised to see the price jump so high in February when demand is normally low, and he’s now concerned about what might happen next month.
DeHaan explains, “traditionally gas prices rise anywhere from 40 to 60 cents a gallon in late March through early May.” He says if that happens this year “it will easily send the national average over $4.00 a gallon.”
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The first factor that makes up the price of gas at your local station is crude oil suppliers. This makes up about 59% of the price you pay for gas and it is determined by the world’s oil-exporting countries, particularly OPEC, the Organization of the Petroleum Exporting Countries. The amount of crude oil that these countries produce determines the price per barrel of oil….
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