Gas prices could go up again in spring, not if

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Gas prices could go up again in spring, not if

Get ready for gas prices to go up again in the spring. A gallon of driving fuel could go back above $4, according to GasBuddy petroleum analyst Patrick De Haan.

It's a question of when, not if. "I think something like that could happen in April, maybe sooner," said De Haan.

I think motorists are going to get squeezed more in late February. He said that the next three weeks could be a bit of a mixed bag.

De Haan points to planned breaks in production at refineries as part of the reason for a rise in prices.

We have a lot of refinery turnarounds that are going to start in the next couple of weeks. He said that's going to lead to a reduced amount of gasoline supply.

He points out the end of lockdowns in China, the biggest consumer of energy, as a catalyst for increased demand.

He said that with China reopening, you can't emphasize it enough.

When we opened, the US economy saw a level of pent up demand, said De Haan. The same would apply in China. That is likely to chart our course for the next 3 -- 6 weeks. The average retail gasoline price was $3.41 per gallon a month ago, compared to $3.10 a month ago, according to AAA.

On Wednesday, Brent BZ F crude was trading just above $86 per barrel. West Texas Intermediate CL F was trading just above $80 per barrel.

Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at ines ferre.

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