Prices at the pump poised to spike - KLTV.com-Tyler, Longview, Jacksonville, Texas | ETX News

Prices at the pump poised to spike

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Gas prices may reach five-year highs in the coming week. (Source: Red Dog Report) Gas prices may reach five-year highs in the coming week. (Source: Red Dog Report)

(RNN) - Summer is fast approaching and gas prices may be increasing with the temperature.

According to Gas Buddy, a five-year record in prices for gasoline is poised to be broken, with many of the record highs already being seen in the Midwest.

Major cities in Wisconsin, Nebraska, North Dakota, South Dakota, Oklahoma and Kansas will feel increases of 10 cents or more in the next few weeks.

The reason for price increases are ongoing issues at oil refineries in the Midwest.

Gas prices have been on a heavy incline since mid-April and sticker shock may shake things up for travelers as Memorial Day and summer travel approaches.

The national average for regular gas per gallon is $3.62. The record high from five years ago was $4.12.

Good news - the price flare-ups are just temporary as supplies from other refineries make it to the region.

Copyright 2013 Raycom News Network. All rights reserved.

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