ELKHART — Gas prices could reach $4.25 this summer, according to GasBuddy.com predictions.

Thursday’s regular gas price averaged $3.28, but the price is predicted to increase dramatically in the next few months.

“(Gas) prices may peak between $3.95-$4.25. Prices could go even higher if the situation in Iran further deteriorates,” said Pete DeHaan, senior petroleum analyst for GasBuddy.com.

He is referring to the Iranian Strait of Hormuz, through which about one-fifth of the world’s oil supply comes, according to the the U.S. Energy Information Administration’s website. Iran has threatened to shut it down recently, removing that oil source from the Western world.

DeHaan said shutdowns of northeastern U.S. gasoline refineries also are a factor in rising gas prices.

The northeastern refineries scheduled to shut down soon are Sunoco Inc.’s Marcus Hook refinery, ConocoPhillip’s Trainer refinery and Sunoco’s Philadelphia refinery, all in Pennsylvania, according to advfn.com, a financial website.

Bradley Smith, vice president for Academic Services and former economics professor at Bethel College in Mishawaka, said he isn’t sure whether gas prices will increase that much.

“I’ve heard some debate as to whether it will go up,” Smith said.

But if it does, he said, it would negatively affect Elkhart’s already struggling economy.

“Really high gas prices push back economic recovery,” Smith said. “When gas prices go up, it affects everyone because people spend less on food and services if they’re spending (their money) on gas.”

DeHaan said it is normal for gas prices to increase during the summer.

“Supply of cleaner burning formulations is typically quite tight to start the summer, and seasonal demand means tighter supply of such formulations,” he said.

DeHaan said the gas price predictions are not just guesswork.

“Past history, experience and analysis of the impacts and how they weigh on the market” help predict future gas prices, he said.

But for people who want their tank of gas to last longer, keeping a constant speed at the speed limit or below and accelerating and decelerating slowly help increase a vehicle’s mileage to help save money at the gas pump.

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