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Iraq crisis to blame
Wed June 18, 2014
Gas Prices Rise Though Supply Is Ample
The recent spike in gas prices is not only because prices rise for summer travel but because of the turbulent situation in the key oil-producing nation of Iraq.
That's the assessment of a senior petroleum analyst for the website...gas buddy dot com Greg Laskoski...
"....we're at $3.74 right now, a week ago they were at $3.72. A month ago it was $3.59. So there's no doubt we're seeing increases. This is all across the Great Lakes region and certainly across the rest of the country as well...."
He says the national gas average is $3.66 a gallon which has gone up three cents a gallon in the last week.
Laskoski says the situation in Iraq is helping driving the price up. But, oddly enough, there is plenty of gasoline in supply...
"....our domestic supply is looking pretty strong for both crude oil inventory as well as gasoline inventory. At the same time we do see a slight uptick in consumer demand. That's not uncommon to see during the summer driving season...."
In the Northwoods....Rhinelander's prices are at $3.74...$3.67 in Minocqua....$3.83 to $3.99 in Eagle River according to gasbuddy. com
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