Gas prices climbing again

We’ve probably seen the lowest gas prices of the summer. The question now, according to analysts, is whether prices at the pump will stand pat or continue climbing as they have recently started to do.

Don't expect to see sub-$3 gas prices again anytime soon.

Two weeks ago, leading up to July 4, the price of gas was dropping nationally and fell below $3 locally at some stations.

But those sub-$3 prices didn’t last long. The local average has jumped about 10 cents a gallon in the past week–in Stafford, the average is $3.25, according to AAA, and in Spotsylvania it’s $3.15. (Click here to use AAA’s gas price finder.) Local prices are still lower, by between 20 cents and 30 cents a gallon, than last year at the same time.

The recent increase ended a 78-day streak of falling prices and analysts doubt that a new, downward, streak will start anytime soon, AAA reported this week.

“We’ve probably bottomed out at least for the next couple of months, although it may be a very adventuresome summer,” Tom Kloza, Oil Price Information Service (OPIS) chief oil analyst, told AAA. He said prices likely won’t drop again until Labor Day in early September, which is the end of the summer driving season.

Prices, he added, will probably remain at “what we see now or just a little bit higher.”

As always, international strife, the economy and the weather can wreak havoc on gas prices.

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