Gas prices spiking? Relax

You might have seen gas prices bump up a quarter or more at local pumps since the weekend, but AAA Chicago spokeswoman Nicole Niemi says it's nothing to panic about.

The beginning of May is typically the time when refineries are shifting to summer-blend gasolines, gas that contains additives to keep the pollution levels down over the summer. Creating special blends for the summer usually adds to the price of gas.

In addition, Niemi cited slight rises in the price of oil and worldwide demand as contributing factors. But she said she expected prices to remain stable, without the kinds of spikes toward $4 a gallon we saw last summer – barring natural disasters such as hurricanes.

So your price has gone up and probably will hang around $2.35-$2.50 a gallon for the month. It might go up again before and after Memorial Day, but don't expect to see $2.75 a gallon this summer, let alone $3 or $4 a gallon.

– Chris Freeman