(CNBC) Gasoline prices could see a significant springtime jump of 20 to 45 cents per gallon, pushing retail pump prices to their highest level since June 2015, according to a widely followed gasoline analyst.
Tom Kloza, global head of energy analysis at Oil Price Information Service, said he sees several factors combining to push up prices — anticipated higher crude prices, higher demand from U.S. drivers and a higher level of gasoline exports. According to AAA, the national average for unleaded gasoline was $2.30 per gallon on Thursday.
“I’m not looking for consumers around the country to pay $3 or more, but I am looking for a noticeable increase that would put us 25 or 40 cents above the peak of last year, which was about $2.38,” he said. That level was reached in June.