COLDWATER, MI (WTVB) – Hold on to your wallet at the gas pump in the coming days. Gas prices around Branch County and Southwest Michigan shot up to around $2.50 a gallon yesterday and GasBuddy.com analyst Patrick DeHaan is predicting it might be the start of several price hikes. He blames an increase of up to 27-cents a gallon in wholesale gas prices Thursday for rising prices nationwide.
Before yesterday’s 15 to 20 cent a gallon spike, Triple-A Michigan had the statewide average cost for a gallon of gas at $2.30. Much of the blame also falls on the annual switch from winter blend to summer-blend fuels to meet EPA guidelines. Then there are refinery issues like equipment breakdowns and striking union members pushing up prices as well.
The forecasters add that the gas supply is far outstripping the demand, and that will drive prices lower once summer comes.
