Gas Prices Will Remain Calm For Another Six Weeks [AUDIO]
Gasoline prices have been endging upward since before Christmas, but an industry expert says the real price movement will take place in the spring. Tom Kloza of the Oil Price Information Service says gas prices in New Jersey are averaging about 3-25-a-gallon right now, but some drivers are buying it a lot cheaper than that. Kloza says gas prices have probably risen about 15 cents or more since their low point.
He says during this post-holiday period, consumer demand and driving demand is at a low point....a very low point. Kloza says, "as a matter of fact, I think you will see the lowest gasoline demand of this century, this month". He says January is always a very low demand month.
Kloza says all of that will likely begin to change around the end of February or early March when the next spring price spike begins. And this is ominous: Kloza says that spike may be what he describes as, "brief, but very dramatic between March and May". He says that spike will be more about refinery closings than more expensive crude. but for the here and now, enojy the lull in prices while you can.