(NBC) – Prices at the pump are higher and drivers should not expect relief any time soon.
According to the Lundberg survey, the average price for a gallon of gas went up almost .13 cents a gallon in the past two weeks.
The price is up more than .60 since January 11th.
There are several reasons why the price of crude oil has increased. Production is down because many refineries are going through both planned and unplanned repairs.
Also, there’s an ethanol shortage from Midwest flooding and the transition to costlier ‘summer blend’ gasoline.
And as refinery repairs are finished and as the U.S. imports ethanol from Brazil, gas prices should peak and then start to fall.