According to AAA, the nationwide average price of a gallon of gas this morning sits at $3.44. That’s three cents less than the same week last year. But gas prices are about to start a normal, seasonal rise.
Gas prices typically rise this time of year. Gas stations sell different blends of gasoline for warmer and colder months. Cars start in the cold more easily with winter blends, but the gas evaporates faster at warmer temperatures, so refiners switch to a blend that won’t evaporate as quickly for summer.
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According to AAA, summer gas is more expensive to make and thus priced higher – about 10 to 15 cents per gallon. Drivers get some of that money back, as most cars are more fuel-efficient on the summer stuff.
“Much of the seasonal rise that happens this time of year is a culmination of refinery maintenance, the switch to summer gasoline, and rising demand,” says Patrick De Haan, head of petroleum analysis for GasBuddy.
Demand is picking up as warm weather tempts Americans out of the house. Americans used 9.04 million barrels of gasoline last week – up from 8.59 million the same week last year.
Higher demand and switching to summer blends mean Americans should expect price increases at the pump. “This is the time of year we normally see pump prices start to rise,” says Andrew Gross, AAA spokesperson. “And while prices have been rather pokey so far, they should begin to accelerate and move higher very soon.”
