If it feels like filling up your tank is getting more expensive by the day, AAA says you're not imagining it.
AAA spokesman Don Redmon says gas prices have climbed roughly 16 to 17 cents over the past month, and motorists should prepare for even higher prices in the weeks ahead.
"We need to start bracing for a return to four-dollar gasoline," Redman said.
The average price for regular gasoline in the New Orleans metro area is currently about $3.61 per gallon, but Redman says that number could rise quickly as gas stations begin purchasing more expensive fuel from suppliers.
The biggest factor isn't Tropical Storm Bertha.
While the storm temporarily raised concerns about Gulf energy production, Redman says escalating conflict involving Iran and growing uncertainty in the Middle East are now driving oil markets.
Crude oil prices account for roughly half the cost of a gallon of gasoline. As oil prices climb, drivers typically see higher prices at the pump shortly afterward.
"It's not really a supply issue right now," Redman explained. "It's the uncertainty."
He says retailers could increase prices almost overnight as they replenish inventory at higher wholesale costs.
For drivers trying to stretch their budgets, Redman recommends paying close attention to international headlines, saying developments overseas will likely determine whether gas prices continue climbing—or finally begin to ease.
For now, AAA says motorists should plan ahead and expect to spend more every time they fill up.
