This Is Why Gas Prices Are Going Up Across The Country This Week
Apr. 8, 2012
NEW YORK (AP) — Ahh, spring. The days get longer, flowers bloom, and gasoline gets more expensive.
It’s a galling time for drivers, and it’s more maddening than usual this year. The average price of gasoline could surpass $4 per gallon nationwide as early as this week. It’s already $3.93 per gallon, a record for this time of year.
Why the seasonal spike? It’s the time of year refineries reduce output to repair equipment and start making a cleaner, more expensive blend of gasoline for summer.
Since 2000, pump prices have risen every year between early February and late May. The annual increase has boosted prices by 27 percent on average, according to the National Association of Convenience Stores. This year, prices have risen 14 percent, or 48 cents per gallon, since Feb. 1.
“There’s always built-in increase, and it’s going to be accentuated this year,” said Tom Kloza, chief oil analyst at Oil Price Information Service.