Gas prices up at the pump, could go higher soon - NBC12 - WWBT - Richmond, VA News On Your Side

Gas prices up at the pump, could go higher soon

RICHMOND, VA (WWBT) -- The price at the pump is on the way up again, for the first time in nearly two months. The jump was pretty steep and it looks as if those prices will continue to go up in the near future too.

Two guys with the same name, filling up at the same station, but two different opinions, on the price at the pump.

"I live pretty close to work and I don't do a whole lot of traveling so I'm probably the exception. It doesn't make too much of a difference to me," says Scott Germain.

'It's outrageous. I thought it was going down and looking pretty good," says Scott Smith.

Here in Richmond, the price at the pump now sits at $3.51 for a gallon of regular gas. That's up 14 cents in just one week and nearly a dollar more than this time last year.

"The problem is just when they retreat we have better job numbers coming out, better than expected retail number in June and that caused the crude oil prices to go up," said Martha Meade of AAA Mid-Atlantic.

Today alone, we saw prices jump nearly 10 cents with many stations advertising the same $3.57 price for regular. The stations seemingly changing their prices one after another.

Meade says there are many reasons why. "It could be just the competition from across the street or it could be a new tank in the ground."

So, here is the good news. "There's no $4 alarm going off at this point," says Meade. The bad news though,  "we think gas prices will settle in the $3.25 to $3.75 range for the summer."

So we're in the middle now, meaning there is still room to get worse.

"Back off. Back off. Lower the prices," says Smith.

Also, don't forget those prices could go up too, if a hurricane forms and comes near the oil refineries.

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