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Why Are Gas Prices Going Up?

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(credit: MIGUEL MEDINA/AFP/Getty Images)

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MINNEAPOLIS (WCCO) — If you drive a car, you’ve noticed a 30 cent jump in gas prices in recent weeks. But why?

The reasons are many, according to the experts. One big factor is the temporary shutdown of a half dozen refineries around the country, including two in the Chicago area.

Another is the purchase of gas from our neighbor to the north.

“As of right now we’re getting a bit more from Canada. It’s a bit more expensive,” said Gail Weinholzer of AAA in Minneapolis.

NewsRadio 830 WCCO’s Steve Murphy Reports

Weinholzer also said the price of crude on the world oil market has risen from $92 a barrel to $97 because our economy is improving and the demand for gas is going up.

“So the good news is we’re seeing some positive economic news. The bad news is, it’s costing us more at the pump,” Weinholzer said.

Prices in the Twin Cities are now in the $3.37 range, up from $3.08 just a month ago.

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