Gas prices are stable....for now...but an industry spokesperson says it's likely we're likely to see more price hikes until Memorial Day.
Patrick DeHaan of the website gasbuddy.com says refinery maintenance shutdowns and lower outputs have put the pressure on prices....
"....Don't be fooled. There may be more price increases coming in the weeks ahead as refineries finish seasonal maintenance and we continue transitioning to summer gasoline...."
Summer gasoline is a different, and more costly, blend for your vehicle. He says prices here have dropped a couple of cents recently...
"...statewide the price is $2.53 and about 3 cents higher(per gallon) in Rhinelander where it looks like $2.56 at most stations. That is down 2 cents a gallon in the last week...so a little bit of a breather as we transition to summer gasoline statewide prices are up about 8 cents a gallon in the last month...."
He says global oil prices have leveled for now and that provided what appears to be the temporary slow down in the price rises. Foreign oil producers cut back on production last year after a market glut.
DeHaan says U.S. oil inventories continue to decline and that is why a barrel of crude oil is about $13.00 higher than a year ago.
