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Trends indicate higher gas prices

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MGN

IDAHO FALLS, Idaho (KIFI/KIDK) - Gas prices rose by 5.2 cents per gallon in the past week, averaging $2.87 per gallon Monday morning, according to consumer watchdog GasBuddy.com.

Its daily survey of 802 Idaho service stations shows prices are 14.8 cents per gallon higher than a month ago, but still 21.9 cents per gallon lower than a year ago.

The national average price, meanwhile, fell .4 cents per gallon in the past week.   

"While the national average gas price didn't show much of a significant trend either way, oil prices did jump last week on the solid jobs report and on news of a growing consensus that the U.S. and China have agreed to some form of a trade deal," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "With such strong economic data, the picture is painted that we could see improving demand for oil and thus prices rising last week. While it may not be immediately noticed at the pump as gasoline demand continues to be weak in the off-season, it certainly could lead to a more noticeable impact next summer should nothing change until then."

With Thanksgiving travel coming up, DeHaan said last week's oil jump could derail falling prices.  And looking ahead to summer, DeHaan said prices might not drop as much as they could have.   

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