Analysts brace for impending gas price spike

"Gas Pump" by Mike Mozart, some rights reserved

FORT WAYNE, Ind. (WOWO): Watch out for rising gas prices tomorrow.

Petroleum analysts at GasBuddy say there’s a “noticeable increase” in the price of gas on the way as oil markets surged Thursday on the largest decline in oil inventories ever reported by the Energy Information Administration.

Crude oil inventories dropped by 14.5-million barrels, alongside a drop of 4.2-million barrels of gasoline, causing oil prices to almost immediately jump $2.

Analysts say this was caused in part by delayed offloading of imported oil thanks to Hurricane Hermine.

Expect prices to jump 10 to 35 cents per gallon Friday across the midwest.


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