Refinery Explosion Sends Gas Prices Skyrocketing
DETROIT (WWJ) - Drivers in metro Detroit are seeing a 30 cent increase in gas prices, paying anywhere between $3.30 and $3.75 this week.
Gas Buddy.com Analyst Patrick Dehaan explains the price jump.
"What we are seeing this year is a bit of a jump up, perhaps earlier than we are used to ...," noted Dehaan. "Prices in Michigan - all the way up 31 cents a gallon higher right now than prices were a week ago."
Dehaan thinks the price hike has not stopped yet: "it's still possible that we'll see another 5 to 10 cents (increase) at the pump."
Dehaan says a gas refinery explosion in Toledo a few days ago is partially to blame for our spike -- but crude oil prices have also rebounded.
