Gas Prices on the Rise?

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Get ready to pay more at the pump, according to gasoline experts. Gas prices are expected to be on the rise soon.

Harlan Ochs, President of Acorn Petroleum, says gas prices have been pretty stable lately.

We're probably near the bottom of the price range, said Ochs.

He thinks that will be changing soon.

Sometime in the next couple of weeks, 30 days at most, we'll probably start seeing some increases in gasoline prices, said Ochs.

Ochs expects prices to go to the $2.50 to $3.00 a gallon range. He blames the continuing increase in demand, while he says capacity to produce oil has not increased significantly.

He says instability in the Middle East, along with any problems with refineries could also increase the prices.

Roy Turner with the Colorado-Wyoming Petroleum Marketers Association agrees prices will be going up. He says oil use is up, because of cold snaps in other parts of the country, where oil is used for heating. He also says the Denver oil refinery is also going to be slowing down production soon. He believes it will strain the Front Range gas supply.

The refinery is called Suncor. Stephen Douglas with Suncor confirms the refinery will be down to only a third of its normal production for 6 weeks starting February 10th. Douglas says slow down is will allow them to do normal maintenance and to add new project to the refinery. He doesn't expect much of a strain on supply, because he says they've arranged for more gas supplies for other refineries in nearby states.