Gas prices are continuing break records across the country. Here's what to know about the cost at the pump.
Another factor is the transition into summer months, when demand for gas due to traveling is heightened.the switch to the summer blend of gas is already underway, which typically adds seven to 10 cents per gallon.
"Even the annual seasonal demand dip for gasoline during the lull between spring break and Memorial Day, which would normally help lower prices, is having no effect this year," said AAA spokesperson Andrew Gross.You can't control gas prices, but you can be smarter when it's time to head to the pump.Waldenback said there is no ceiling, but it's certainly possible for the national average to go above $5 at some point this year.
"If we're saying the situation is like it is now, then I still think we're going to see fairly high prices for possibly the entire year and possibly longer," he said. demand and available inventory of gasoline will also dictate future prices. De Haan also said last week the upcoming hurricane season could hurt oil refinery capacity.
"Prices later this week could be closer to $5 per gallon than $4, as demand continues to edge higher and inventories of both gasoline and diesel continue to decline, temperatures warm and motorists get back outside and we near the Memorial Day weekend, the start of the summer driving season," De Haan said."There isn’t much reason to be optimistic that we’ll see a plunge any time soon.
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