Gas Prices Rising in Northern New England

18 hours ago

PORTLAND, Maine - As expected he price of gasoline has increased in Maine.  GasBuddy is reporting that the current statewide average is up a nickle from last week to $2.32 a gallon. 

GasBuddy analyst Patrick DeHaan says continued increases are seasonal in nature and that the main contributing factor is the price of crude oil, which is $5 a barrel higher than just a few weeks ago.

"This time of year we usually see crude oil prices start to advance and that pulls gasoline values higher," DeHaan says. "This time of year refineries are finishing maintenance work and they're starting to process more crude oil which contribute to inventories declining and higher prices."

In addition, DeHaan says many areas are nearing completion of the transition from winter blend to more expensive summer blend gasoline.  

Today's statewide average is 4 cents higher than last month and 22 cents more than last year at this time.

DeHaan says he thinks prices will plateau at around $2.50 a gallon, on average, by Memorial Day.  For most of the summer, he says, gas prices in Maine are expected to average around $2.45 to $2.60 a gallon.