Fuel prices expected to increase up to 20 cents

Fuel prices expected to increase up to 20 cents Image

Oklahomans may see a sharp spike in gas prices over the weekend, according to gas price monitoring websites.

OklahomaGasPrices.com is warning motorists to look for a possible gas price increase of up to 20 cents a gallon in some parts of the state, and up to a 45-cent increase in parts of the United States.

A refinery fire in Washington state has caused a large increase in gasoline prices down the entire West Coast region, Patrick DeHaan, a senior petroleum analyst for the website, said.

The impact of the Washington refinery fire should be minimal to gas prices in Oklahoma because the state depends on local refineries and refineries in the Gulf, Chuck Mai, the spokesperson for AAA Oklahoma, said.

However, other refinery issues will cause gas price increases in Oklahoma region, he said.

"Each spring refineries around the nation have to shut down for two or three weeks to transition into producing the summertime fuels," Mai said. "That puts pressure on supply as well."

Some refineries on the East Coast and in the Caribbean recently shutdown, which will also cause a decrease in supply and increase the price of gas.

Mai expect gas prices in Oklahoma to increase up to 35 cents per gallon by the end of spring.

There are many factors that contribute to the possible increase in prices, ranging from Geopolitical issues to uncontrollable issues like the weather, Mai said.

"Its just amazing … everything that can have an impact on the price," he said. "Realistically speaking 25 to 35 cents more increase at the pump can be expected hear in Oklahoma before the end of May."

The prospects of paying more at the pump have some locals feeling scammed by oil companies.

"I think they're ripping us off on purpose," Jack Cline, a Seminole resident, said. With the bloated profits oil prices are recording seemingly every quarter, they could afford to lower the prices a little, Cline said.

Though the cost of gas doesn't keep him at home, he still thinks it is a serious issue, and a recent poll by the Associated Press found that seven out of 10 Americans find the issue deeply important.

"It's going to affect everybody," Doug Sells, a Shawnee resident, said. "There's no way to get out of it, unless you're walking."

The average price is $3.41 per gallon in Oklahoma compared to $3.12 a month ago, Mai said.

One year ago a gallon of gas was $3.07 in the state, two years ago the average per gallon cost was $2.51. in 2009, the average cost of gas was $1.71 in Oklahoma.

The refinery fire in Washington occurred at the BP Cherry Point refinery in northwest Washington on Friday Feb. 18. The refinery processes up to 230,000 barrels of crude oil a day from Alaska and supplies 20 percent of Washington's gasoline. The cause of the fire, and the extent of the damage, is still unknown.

Nationally, gas prices are pushing $4 a gallon, with $3.58 the national average. Experts expect a record high of $4.25 by Memorial Day in some parts of the country.

The Associated Press contributed to this story.