Economy

Experts predicts $3 a gallon gasoline soon

If you haven't already noticed it at the gas pumps, you will.

Your pocketbook is about to take another hit — gas prices are rising.

Within the past week, gas prices rose 21.2 cents per gallon, averaging $2.55 a gallon in Wichita. That's up 83 cents from last year at this time.

Experts say don't be too alarmed — just yet. Pump prices typically rise this time of year as refineries switch to a summer blend of gasoline, which is more expensive to refine.

"This is when we start to see the gasoline market go higher," said Darin Newsom, a senior analyst with the Omaha-based Internet trading firm, Telvent DTN.

Gas prices traditionally rise from mid-February through the July Fourth weekend, Newsom said.

Experts don't expect gas to hit $4 a gallon like it did in the summer of 2008, but several are predicting it could be above $3 per gallon.

Read the complete story at kansas.com

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