Why gas prices (almost) always peak in spring, not summer

Gas Prices Maintain Highest Price of 2018

Gas Prices Maintain Highest Price of 2018

According to GasBuddy, the national average is at the highest it's been since July of 2015, at $2.68.

Kern County prices ranged between $3.551 and $3.479 per gallon, according to AAA.

It is important to remember that these are national averages. Drivers are likely to continue to see prices increase as stations across the country begin to switch to the more expensive summer blend ahead of the busy driving season. "Compared to this day a year ago, Texans are paying 20 cents more per gallon to fill up their gas tanks".

Fuel prices averaged $2.68 on Thursday, up 15 cents from a month ago and up 28 cents from a year ago, USA Today reported, citing AAA. "At the same time you hope that you've got a few extra dollars in your pocket at the end of the day".

It's not news you want to hear, but gas prices are on the rise.

"On top of that, sprinkle a little Syria, sprinkle a little trade tension - and oil prices are a bit higher than they otherwise would be", DeHaan said. He's the Head of Petroleum Analysis for gasbuddy.com.

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Crude oil futures rallied Tuesday along with USA stocks.

The rising summer gas prices are forecast to cost an average family an extra $200 per household this year, the EIA calculated.

"That agreement was effective in January 1, 2017, and now OPEC has extended that, or previously extended that production through the rest of 2018", says Dehaan.

Pushed up by higher crude prices and lower inventory, the U.S. Energy Information Administration expects the retail price of regular-grade gasoline will average $2.74 per gallon this summer, up from an average of $2.41 a gallon last summer.

The highest average price in the contiguous 48 states was $3.63 in the San Francisco Bay area.