Consumer Alert: Gas prices beginning to creep up

Posted: Updated:

Experts expect motorists to be paying more at the pump soon – but in the Northeast, drivers are faring better than most.

Last weekend’s attack on an oil processing facility in Saudi Arabia knocked out 6% of the world’s oil supply. Crude oil prices jumped 15% overnight.

The increase at the pump has been less dramatic, but many experts say prices will drift up anywhere from 20 to 40 cents a gallon over the next two weeks.

On Monday, the average price of a gallon of gas nationwide was $2.56 a gallon. By Friday morning, it was 11 cents higher.

But the tristate area is doing significantly better: New Jersey gas only went up 4 cents, from $2.55 to $2.59 a gallon. In New York, prices went from $2.72 a gallon to $2.76. In Connecticut, gas prices only rose about 2 cents.

Experts say the fall is usually the cheapest time of year to buy gas. That’s when companies are starting to switch to their winter blend, which is cheaper to make.

“The Northeast region is faring far better than the national average and some other states across the country simply because we’ve begun the switchover to winter blend fuels already,” says Trace Noble, of AAA.

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