Consumers who have watched fuel prices rise steadily in recent weeks should not count on any relief soon.
"Prices are at all-time highs for this time of year," said Stephen Schork, an independent analyst in Montgomery County who edits an online energy newsletter.
Gasoline prices in the Scranton/Wilkes-Barre metro area have increased 6.5 percent over the last month and averaged $3.77 for a gallon of regular fuel on Thursday, according to AAA.
Crude oil prices have parked above $90 a barrel since late December and are up 10 percent over the last two months. Oil prices account for more than two-thirds of the cost of a gallon of gas, according to the U.S. Department of Energy.
"Some customers just left and they are getting angry," Ken Santarelli, whose family operates gas stations in Blakely and Mayfield, said on Wednesday.
He expected gas prices to move a couple of cents higher by the week's end.
"There's no reason for this steady upswing," Mr. Santarelli said. "It's crazy. There's no end."
Some petroleum refining capacity continues to lag from shutdowns, and refineries face more disruption as they convert production from winter- to summer-fuel blends. A weak dollar relative to other currencies continues to prop up oil prices.
The result will be more fuel prices increases in the short term and high costs at the pump into the summer, analysts project.
"We are expecting incremental increases from now through April," said Gregg Laskoski, an analyst at GasBuddy.com, an online fuel information network based near Minneapolis. "We don't expect them to be as aggressive as we have seen in the last couple weeks."
He predicted prices for gas could peak at a national average of up to $3.95 a gallon in late April.
Mr. Schork was more pessimistic.
"Consumers can expect to pay high prices through the summer," he said.
Market and production conditions combine to keep prices high.
The Organization of Petroleum Exporting Countries cut oil output by 465,000 barrels a day in December, and some supply issues linger as refiners begin preparing facilities for warm-weather fuel blends to emerge in May.
"They are looking to reduce their inventory of winter-blend gasoline," Mr. Laskoski said. "It is a difficult situation. It is made worse when you have high crude oil prices, and then when you have a weak U.S. dollar, that also compounds the problem."
Some Northeast refineries remain out of service after Superstorm Sandy, creating further upward price momentum, Mr. Schork said.
"The big issue is that some refineries are closed because of unplanned outages," he said.
"And we are in the midst of seasonal (production) turnaround."
Mr. Santarelli expects an eventual price retreat because markets historically self-correct when gas nears $4-a-gallon territory.
"What goes up must come back down," he said. "I feel that we've got to see a downtrend in a month or two."
Contact the writer: jhaggerty@timesshamrock.comAt the pump
-âTime Regular Premium
-âFriday $3.775 $4.071
-âWeek Ago $3.737 $4.025
-âMonth Ago $3.532 $3.840
-âYear Ago $3.636 $3.903
-âHighest average: $4.057, July 17, 2008