Have you noticed gas prices are on the rise? AAA fuel analyst Don Redman says the cost of regular gasoline rose 7 cents a gallon over the last week for a statewide average of $2.19. Redman says it’s that time of the year when the price at the pump rises.
“This is the period where we start making that transition to summertime gasoline, which is more expensive to refine, and it’s a time where refineries close for maintenance and upgrades to their equipment,” Redman said.
Gas prices are at their highest level since January. Redman says refineries are switching from a winter grade of gasoline to a summer, which will lead to a decrease in supply, possibly pushing gas prices to $2.50 a gallon by May or June. He says motorists should be prepared to pay more for gasoline this year.
“We were paying on average in June last year $2.13 a gallon. I don’t think we’ll see a repeat of that, but I think the more normal expectation is about $2.50 a gallon,” Redman said.
Redman says the more expensive summer grade gasoline has to be in place by May. He says while the swing in prices varies a little from one year to the next, we can always expect gas prices to go up this time of year.
“We’ve seen an increase of over a dollar in the past and sometimes an increase of only 10 cents. Typically the average is about 40 to 50 cents a gallon from February to what we see in June,” Redman said.