Gas Prices: Petroleum Analyst Keeps Eye on Isaac | Transportation

Average retail gasoline prices in Cleveland have fallen 1.1 cents per gallon in the past week, averaging $3.69/g Sunday. This compares with the national average that has increased 3.0 cents per gallon in the last week to $3.73/g, according to gasoline price website ClevelandGasPrices.com.

Including the change in gas prices in Cleveland during the past week, prices Sunday were 3.9 cents per gallon higher than the same day one year ago and are 22.2 cents per gallon higher than a month ago. The national average has increased 23.3 cents per gallon during the last month and stands 11.8 cents per gallon higher than this day one year ago.

"Well, for those that have noticed, the national average has perked up slightly in the last week as oil prices have advanced," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "While that may be notable, soon-to-be Hurricane Isaac will be the story this week. It's entirely within the realm of possibility that we see refinery outages, oil production losses, and gasoline supply issues- essentially all the things you don't want to happen. While this storm doesn't currently appear as powerful as other storms that have caused similar concern- we're continuing to watch the situation develop. One thing is for sure- I'm concerned that this storm will temporarily drive prices higher in the short term," DeHaan said.