Gas prices seen likely to rise
Analysts predict lower supplies and higher demand will drive market in coming month, report says.
NEW YORK (CNNMoney.com) -- Analysts believe gas prices will likely continue their recent upward trend in December, according to a report published Thursday.
It is rare for gasoline prices to go up at this time of year, but oil prices have continued rising while gasoline inventories have declined significantly, said USA Today.
The average price of a gallon of gas was $2.297 a gallon on Monday - the highest in two months - and analysts at Wachovia and Moody's Economy.com expect that it will continue to climb, according to the paper.
Gasoline demand in November was up 1.6 percent from a year ago, adding to pressure on prices, said the paper.
Stock prices for petroleum providers BP Plc (Charts), and Chevron Corp. (Charts), were down less than 1 percent Wednesday, while Exxon Mobil Corp. (Charts) saw shares tumble more than 2 percent as crude prices continue to vacillate.