Looks like gas prices are inching up as we approach Labor Day, and the cause comes from the Middle East.
The website gas buddy.com keeps an eye on gas price trends. Senior Petroleum Analyst Patrick DeHaan says two oil producing countries are causing the markets to get the jitters....
"....gas prices have been inching up as prices have risen about 20 percent in the last three weeks. Gas prices now rising in tandem. It's likely that could continue for the next week as we approach Labor Day weekend...."
DeHaan says two oil producing heavy hitters are hinting at a change...
".....lets put it this way, the market believing the Saudi oil minister, his threat, that the Saudis are ready to cut oil production, and now for the first time in quite some time Iran has signaled that they may participate in an organized production cut as well, and that is really fueling oil prices...."
But DeHaan thinks after Labor Day things could change again. People drive fewer miles and refineries convert over to lower cost winter blend gas, so gas prices might again begin to drop
. The average price in Wisconsin is in the $2.25 range but DeHaan notes it is higher in the state's tourist areas.
