KANSAS CITY, Mo. -- Gas prices have stayed fairly steady this summer, but if you've filled up recently you've probably noticed prices have jumped. And analysts say we aren't done.
Experts say they expect gas prices to jump 15 to 20 cents a gallon over the next couple of weeks. Overnight Monday we saw prices spike 10 cents in the metro. The big question is why? Oil traders say the increase is being driven by turmoil in oil-producing countries like Egypt, Syria, Iraq and Brazil. With turmoil in the Mideast prices rise in fear that something bigger might happen that could cut off the supply of oil to the United States. And we can't forget this is the busiest time at the pump with Americans hitting the road for family vacations.
According to AAA over the past week gas prices in the Kansas City have shot up 25 cents for a gallon of regular. But, we're still better off than years past. AAA says the highest recorded average price was in the summer of 2008 when we were paying on average $4.05 per gallon for regular unleaded.
Analysts say they expect prices to jump to around $3.60 to $3.75 a gallon in the next week or two. How long will gas prices stay up? Some experts say they think prices will go back down in mid to late August.