Forecast: Prices to Jump Next Day or Two

You May Want to Tank Up Today

By Peter Neumann

You May Want to Tank Up Today

April 19, 2013 Updated Nov 13, 2013 at 1:37 PM EDT

DETROIT, Mi. (My TV20 News at 10) --- Motorists should be aware of a possible spike in gasoline prices over the next 24-48 hours in Detroit.

"I expect stations to increase prices 10-25 cents per gallon over the next day or two with some stations starting to raise prices immediately," says Patrick DeHaan, Senior Petroleum Analyst.

DeHaan warned Thursday via GasBuddy's Facebook page that a price hike was likely in the Great Lakes area after watching wholesale gasoline prices spike. DeHaan said changes in wholesale gasoline prices can lead to increases hours later as stations pass along changes in the price they pay for gasoline. Torrential rain has led to shutdowns of some pipelines in the region and refineries have also suffered set backs as the region received record-breaking rainfall.

DeHaan also said that prices outside the Great Lakes would largely be unaffected as wholesale prices in other regions have only risen a few cents compared to the near 25-cent increase in wholesale prices in the Great Lakes region.

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