Why Spring & High Gas Prices Come Together

Spring will be bringing higher gas prices back to the US.

The average price on the most commonly used gas in the US is $2.58 per gallon. According to GasBuddy, that means that gas prices have jumped by 35 cents in just two months.

There are several reasons for this change in prices. For one, the Spring sees more Americans go outside and go for a ride as the weather gets warmer. However, economic factors such as OPEC’s recent production cuts also plays an important roll. Oil prices are often the main culprit, but OPEC production cuts have been somewhat offset by higher US and Canadian shale production. Spring is also the month in which refinery maintenance for most vehicles takes place, a process which takes crude oil and refines it into petroleum products.

Out of all the states, Michigan has seen the highest price increases. In Michigan, the average price of gas has shot up 75 cents from earlier 2019 prices. That being said, we can also expect very wide differences in price swings on a state-by-state basis. GasBuddy reports that drivers can expect to pay more at the pump until at least the end of May.

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5 years ago