UPDATE: Gas prices start to jump in Michiana - Fox 28: South Bend, Elkhart IN News, Weather, Sports

UPDATE: Gas prices start to jump in Michiana

Posted:

Gas prices have started to go up in Michiana.

Several stations in the area raised their prices to $3.99 a gallon early Tuesday afternoon, about 13 cents higher than today's GasBuddy.com average.

The increase came just hours after a GasBuddy.com analyst warned area drivers should be aware of the likelihood of a sharp rise in gasoline prices in the next few days.

"I expect stations to have increased prices as much as 10-35 cents per gallon by the conclusion of the weekend with some stations starting to raise prices immediately," said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst on Tuesday.

Tropical Storm Isaac's approach to the Gulf Coast and regional refining issues are to blame. DeHaan says wholesale gasoline prices, which is the price stations pay for a new shipment of gas, rose 35 cents a gallon on Monday, the largest one-day increase in a year.

There is a bit of good news. DeHaan says the situation is temporary. "I expect the situation to slowly resolve itself over the next few weeks, but as gasoline prices tend to fall slowly, motorists may not have a sense of real relief until late-September," DeHaan said.

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