Gas prices could stay on the rise

By Brandi Bailey

June 20, 2014 Updated Jun 20, 2014 at 6:27 PM EDT

(WBNG Binghamton) Gas prices that drivers are seeing at the pump are reflective of the unrest happening in Russia, the Ukraine and most recently Iraq.

"The retail price at the pump is based on the futures of oil and that's a speculative process," President of Southern NY AAA Richard Jacobs said.

The national average price of gasoline was reported at $3.67. According to AAA, that's the highest the average has been since 2008.

"Typically during a time frame when we see gas prices go down, we've actually seen a $.10 increase since last year. According to AAA, it's a big question mark whether those prices will go down during this summer season," Jacobs said.

It's not the long trips that are being impacted, but the every day errands that are seeing the most impact.

"Your overall spending on gasoline during the course of the year is all right here in town. It's not on your trips and that's where you have an opportunity to save some money," Jacobs said.

Repeated trips will ultimately cost a person more during an uncertain hike in gas prices.

AAA says it's not likely to see prices go down within the next few months.

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