Gas prices are starting to climb again and we will soon enter the period between March and May when gas prices tend to really spike. Michigan drivers have also seen prices climbing at the pump. A Detroit Newsstory explaions how drivers in Michigan could soon be seeing those annoying $3 figures at gas station.
Pump prices are more than a dime higher than at this time last year, fueling concerns that Michigan drivers again could soon pay $3 a gallon -- as they have the past two summers.
"Things might stay stable for a week," said AAA spokesman Jim Rink, noting prices are only up 3 cents from a week ago. "But once we get into March, prices will go up and hit a peak in late May."
Rink said it's not a certainty that prices will top three bucks, but the fact they reached that level the past two years shows the market can sustain that price during the summer driving season.
The higher cost to make summer fuel, higher gas demand and speculators -- those who buy and sell oil as an investment -- push pump prices higher during the spring months, Rink said.
The AAA's Fuel Gauge Report shows the national average price for gasoline up about 11 cents over last month.
