Gasoline Prices Expected To Spike In The Spring

AAA says it could 40-cents more expensive on the national level.

 

Towson, Md (KM). You could be experiencing “sticker shock”: when you fill up your car this spring. AAA Mid-Atlantic says the price of gasoline is expected to jump after the winter.

The auto club says nationally, the price could reach $2.70 per gallon, and may even increase to $2.81 per gallon, a price not seen since the summer of 2015.

“Here in Maryland, typically, we trend a little bit lower than the national average,” says Christine Delise, Senior Public Affairs Specialist for AAA Mid-Atlantic. “But we do anticipate prices raising near that amount.”

She says the reason has to do with the volatility in the price of crude oil, which is refined to make gasoline. “We’re seeing crude oil selling at higher prices compared to previous years, with the trading around the mid-60’s per barrel,” says Delise.

In addition, there’s been a high consumer demand for gasoline during the winter months.

While¬† prices tend to go up as the winter gives way to spring due to shutdowns of refineries for retooling so they can produce the summer blend gasoline, Delise says that shutdown and low supplies of gasoline are usually temporary. But it’s uncertain how long these projected high prices for gasoline will last.

In the meantime, AAA says there are things drivers can do to cope with the high prices at the pump. “Slow down; drive the speed limit. The faster you drive, the more fuel you use,” says Delise.

Also the auto club says carpool to work or school; and don’t use your car’s trunk for storage because the heavier the vehicle, the more fuel it uses. And combine all your errands into one trip.

Currently, AAA says the national price of gasoline is $2.54 per gallon, a decrease of one-cent form a week ago. In Maryland, the average cost is $2.50 per gallon, a decline of one cent form last week. And in Frederick, the average price is also $2.50 per gallon, an increase of two-cents from a week ago.

 

By Kevin McManus