By now, you’ve probably noticed that the price of gas in your neighborhood is rising thanks to the war with Iran.\u00a0<\/p>\n
The question on many people’s minds is how much higher the prices are going to rise.\u00a0<\/p>\n
How high are gas prices going?<\/p>\n
While we’re still paying about what we were around this time last year, it hardly eases the pain of seeing price increases over the last week. There’s just no getting around the impact of war in the heart of the world’s oil supply.\u00a0<\/p>\n
“Pittsburgh prices are up 27 cents per gallon in the last week,” said GasBuddy’s chief analyst Patrick de Haan. “It’s troublesome, if you’re living paycheck to paycheck, all of a sudden, you’re spending 27 cents more than last week.”\u00a0<\/p>\n
The local average has jumped to $3.50 a gallon, and that’s before the summer season increase kicks in.\u00a0<\/p>\n
“When that does happen, it’s going to be a jolt of another 15 to 30 cents on top of what we’re already seeing,” he explained.\u00a0<\/p>\n
However, de Haan believes the pace of increases will begin slowing down in the next week.\u00a0<\/p>\n
When will gas prices come back down?<\/p>\n
“I don’t think Pittsburgh is yet going to get to $4 a gallon,” he said. “I think it could get close, especially with the seasonal trends that we see coming in the weeks ahead.”\u00a0<\/p>\n
He also said that while it’s hard to accept, your local gas station isn’t gouging you; right now, they’re paying more every time a truck comes to fill their tanks.\u00a0<\/p>\n
“A lot of the time, stations find it difficult to raise prices as quickly as they go up,” de Haan said. “Their cost might go up 30 cents, but they are only able to raise 10 cents because nobody’s going to even pay 10 cents more for their gasoline when their competitor is cheaper.”\u00a0<\/p>\n
The competitor’s cost will probably catch up with the next truckload, but in the meantime, it’s a balancing act. So, de Haan recommends setting aside a couple more bucks for your next trip to the gas station.\u00a0<\/p>\n
How can I save money on gas?<\/p>\n
If you’re planning on getting your tank to a certain level and just topping off every now and then, that might actually add to the problem. According to de Haan, the system isn’t built for everyone to keep topping off; in fact, that could create more demand and drive prices higher.\u00a0<\/p>\n
He said to just keep doing normal fill-ups, even though for a while, it’s going to be more expensive.\u00a0<\/p>\n