(Cleveland) - You've probably noticed it in the last week or so, the increase in gasoline prices in Greater Cleveland. Gas Buddy, which surveys hundreds of gas stations in this area, says the average price for a gallon of regular is now $2.65 per gallon. That's up 28.5 cents in the last week, 32.1 cents higher than a month ago, and 18.8 cents higher than a year ago.
There have been a number of factors causing the rise in prices, but the most recent factor is the cold weather in the south. Patrick DeHaan of Gas Buddy says, "With last week's extreme cold shutting down millions of barrels per day in refinery capacity, gas prices have seen their largest weekly climb in quite some time. The jump in price was the result of a dozen or so refineries, primarily in Texas, that were forced to shut down as the frigid temperatures threatened to wreak havoc on their exposed equipment. With the cold weather behind us, price increases show begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks. However, as we near spring weather, we'll likely see another longer term rise in prices begin as refineries start to transition to summer gasoline, so motorists shouldn't jump for joy just yet."
There are still some gasoline bargains in Cleveland. Gas Buddy says a gas station at West 117th and Bellaire is selling regular for only $2.31, one on West 130th just north of I-71 has regular for $2.29. The biggest bargain is out in Lake County, in Perry, where a place on North Ridge Road is selling regular for $2.29.
(Photo by Justin Sullivan, Getty Images)
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