Why gas prices are rising - FOX 13 News

Why gas prices are rising

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TAMPA (FOX 13) -

If you have filled up at the pump lately, you know gas prices are up. In fact, the price for regular unleaded has increased about 17 cents. The average price in the Bay area is $3.50.

There are a couple of reasons for the price hike. Analysts say oil prices have jumped 10 percent over the last two months. That's partly because the economy is improving. The U.S. housing market had its best year in the last five years.

U.S. job growth is steady, and the Chinese economy is showing an uptick.

The other reason is the refineries. Several have shut down or are about to for maintenance.

There is some good news. Prices this year are not expected to be as high as last year. Oil and gas production in this country has increased dropping prices.

The average price for a gallon of gas is expected to be between $3.25 and $3.50. That's about 10 cents cheaper than last years.

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