GasBuddy’s DeHaan: Other Inflationary Pressures on Gas Prices, Not Just Oil

CHICAGO, Illinois (News Talk 1480 WHBC) – When oil prices dropped into the $70 range recently, there was hope that might be reflected at the gas pump.

Not so much.

But GasBuddy Chief Petroleum Analyst Patrick DeHaan reminds us that gas stations are like restaurants, grocery stores and other businesses where prices are higher.

They are all subject to overall inflation.

DeHaan says a lot of that is driven by higher wages being paid to employees.

He sees a coming decline in oil inventories which could drive the price up further.

And he says they’re keeping their eye on the Hurricane Alley of gas refineries that can always be subject to the weather.

The AAA average price in Canton Massillon Friday morning was $3.40 a gallon.