Gas prices surge ahead of Memorial Day weekend
Gas prices continue to surge in the Iowa and Missouri. In the Show-Me state last week, the average price per gallon climbed 10.4 cents, and the number keeps climbing. Iowa saw an even higher jump in price last week with the price-per-gallon launching 18.3 cents higher.
Supply issues with refineries in Kansas and Oklahoma have caused prices to be extremely high, along with increased demand from the approaching Memorial Day holiday, where prices are usually high anyways. Analysts from gasbuddy.com say it could be another couple of weeks before we start to see gas prices decline.
"Well I think that this could be a problem for maybe another week or two at least. It's going to take some time to get enough supply back into the market place and don't forget Memorial Day weekend is right around the corner. So there is undoubtedly going to be an increase in demand at the same time when these suppliers are trying to put a healthier supply of gasoline back into the market,â?? said Gregg Laskoski.
Gas prices are expected to continue to climb with the Memorial Day weekend being next weekend.