More pain at the pump may be ahead

Report says top forecaster expects gas prices to rise another 20 cents a gallon by December.

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LONDON (CNNMoney.com) -- A top U.S. forecaster expects gas prices to jump another 20 cents a gallon by December, according to a report in The Wall Street Journal.

Guy Caruso, head of the Energy Information Administration, said gas prices will keep climbing even if crude prices don't because oil refiners haven't passed the recent rise in crude prices on to gas consumers, according to the newspaper.

Crude prices, which have been approaching the $100 a barrel mark, have eased recently. But analysts expect a weak dollar, the approach of winter and strong demand to keep prices afloat.

At the pump, gas prices rose slightly overnight to a national average of $3.105 a gallon for regular unleaded gasoline, according to AAA. Last year at this time, it was $2.22 a gallon.

Drivers in California are feeling the most pain at the pump with the highest gas prices in the nation at $3.385 a gallon, while prices in New Jersey were the least expensive at $2.905 a gallon.

In electronic trading, crude for December delivery fell 95 cents to $93.67 on the New York Mercantile Exchange. Prices dipped Tuesday after a key OPEC member talked of a possible increase in oil production to offset rising prices. To top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.