Anticipation that the U.S. and its allies could soon attack Syria caused a 10 cent a gallon increase in local gas prices in the past 24 hours, as oil prices topped 110 dollars a barrel. But Patrick DeHaan of GasBuddy.com says those prices shouldn't be increasing again.
DeHaan tells AkronNewsNow " After stations have raised their price to the 3:60's I would expect beginning today and through the weekend, we may see prices trickle down. Most stations probably by the conclusion of the Labor Day weekend will be in the 3:50's or low 3:60's."
DeHaan says the fact that we are at the ending of the summer driving season coupled with increased domestic oil production will blunt the chances of any future sharp price increases at the pump.
The senior petroleum analyst says domestic oil production continues to rise and that helps soften any prices increases. " The output virtually has gone up five times, compared to where it was a few years ago. Imports are down, domestic production is up. That's really helping keep a lid on prices this time around," says DeHaan.
DeHaan says it would take a worst case scenario in Syria or elsewhere in the Middle East for gas to climb to near four dollars a gallon.