While gas prices might seen a little decrease in coming weeks, according to GasBuddy's head petroleum analysis, motorist won't love what they see in 2018.
Gas prices in the Grand Rapids area rose about 1.5 cents per gallon in the last week, averaging about $2.59/g.
Including the change in gas prices in Grand Rapids during the past week, prices yesterday were 22.9 cents per gallon higher than the same day one year ago and are 17.8 cents per gallon higher than a month ago.
According to GasBuddy historical data, gasoline prices on December 26 in Grand Rapids have ranged widely over the last five years:
$2.36/g in 2016
$1.94/g in 2015
$1.97/g in 2014
$3.21/g in 2013
$3.18/g in 2012
"The Great Lakes has seen a flurry of gas price increases over the last week as several refinery issues have surfaces, pulling the national average up nearly single-handedly," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "Without such ill-timed disruptions, we'd see a plentiful portion of falling pump prices, but now, the bitter taste of rising prices during the holiday lingers for many.
But with the New Year set to roll in accompanied by a strong cold front, I'd expect gasoline demand to weaken, thus softening the outlook for gas prices in the weeks ahead and eventually delivering lower gas prices. Offering a brief glimpse into 2018: motorists won't be loving what they see, but the devil's in the details."
GasBuddy will be releasing its Annual Fuel Outlook for 2018 in early January.
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