Gas prices approach $4.00 a gallon at many stations

As predicted by a gas price analyst on Wednesday,  prices have jumped to almost $4.00 a gallon at many Fort Wayne area stations.

Many stations pushed the price for a gallon of regular unleaded to $3.95 a gallon.  The price hike comes on the same day oil prices dropped below $88 a barrel according to the Associated Press.

Patrick DeHaan, senior analyst with the web site GasBuddy.com  explained the reason for the rise in retail prices as new pipeline glitches which have come to light. In addition to three regional refineries suffering setbacks, it was also discovered that Enbridge had to shut a pipeline that delivers crude from Canada to Chicago, putting further dampers on a tight market.

"While this situation will be temporary in nature, prices will remain high as long as these problems continue," DeHaan said.

Gasoline spot prices, the price stations pay before taxes, rose nearly 21-cents per gallon just on Wednesday morning, totaling a rise of 61-cents per gallon since July 25.

For the latest gas prices you can always check wane.com's Gas Gauge.