Colorado Springs
61° F
Scattered Clouds
Scattered Clouds

Extreme weather could cause gas prices to spike

Published On: Jan 07 2014 07:55:42 PM CST

Tracking slightly warmer temperatures, before another cool-down heads our way tomorrow.

Temperatures have plunged across the nation, with many location experiencing windchills between 40 and 50 degrees below zero.

According to senior petroleum analyst Patrick DeHaan, this extreme cold is causing some glitches at oil refineries in some of the hardest-hit regions.

“Those glitches are resulting in partial shutdowns of those refineries, which is having an impact on gasoline production and could in some states result in a slight uptick in prices,” said DeHaan.

DeHaan said the area that would be impacted would be those near the Great Lakes and around the Midwest.  He said Colorado is unlikely to see an increase in gas prices due to the cold.

“Average prices in Colorado Springs should remain between $3, to as much as $3.30 through January and February,” said DeHaan.

Gas prices are about 30 cents higher in Colorado Springs than they were in January 2013, and about 16 cents lower than the national average.


The views expressed are not those of this company or its affiliated companies. Please note by clicking on "Post" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms.

blog comments powered by Disqus