On the national level, analysts said, there is some reason to believe that the current price spike could be a relatively short one. Locally, however, things might stay tight for a while. Bill Fleischli, spokesman for the Springfield-based Illinois Petroleum Marketers Association, said he doesn't see relief coming soon. Higher prices for ethanol and higher taxes also contribute to the steeper local increases, said Charles Allen, a spokesman for AAA's Chicago Motor Club. Another factor was OPEC's decision last month to cut its targeted oil output by 4 percent, or 1 million barrels, to keep prices for barrels of crude oil stable.
People fear higher gasoline prices, so speculators begin to bid up the price.
Kyle Cooper, an analyst for Salomon Smith Barney in Houston, said prices could be influenced largely by a change in driving habits and demand for gasoline. That would have an effect, and you would start to see prices come down. Many say it's unlikely that consumers bound for the road will change their driving habits. We're seeing many of the same factors that contributed to the gas spikes last summer. And it could always be worse.