Patchogue - (WALK) It may be a coincidence, but in February, as Long Island groundhogs predict an early spring, petroleum analysts predict higher gasoline prices.
Petroleum industry analysts are looking past our recent snowy weather and say February is the time refiners scale back production, perform maintenance and prepare fuels for summer driving. Each step is a factor in rising prices.
The record of U.S. oil refiners may be more reliable than our rodents Holtsville Hall and Malverne Mel: Gasoline prices have increased by an average of nearly 31 cents during each February of the past three years, according to AAA and industry authorities.
The price of crude oil is approximately $100 per barrel, an increase of eight percent since mid January, but the price of gas is holding steady and is eight percent lower than a year ago when the national average price was $3.97 per-gallon of regular gas.