In recent days, gasoline prices have seen a significant increase in the United States. According to the latest data provided by the Energy Information Administration (EIA), several factors are driving this increase.
Why is the price of gasoline rising?
The main factor behind the rise in gasoline prices in recent weeks is the shift toward summer gasoline . This type of fuel is more expensive to produce due to its special characteristics that minimize evaporation at higher temperatures. As refineries switch to this variant, production costs increase, which is reflected in consumer prices.
Furthermore, although crude oil prices remain relatively low, gasoline supply is being impacted by lower inventories. Added to this is the fact that gasoline production, although increased, is not sufficient to meet demand, especially during this season.
Gasoline demand in the United States
According to the American Automobile Association (AAA), gasoline demand has decreased slightly in recent weeks. However, gasoline inventories have also decreased, putting upward pressure on prices. Although gasoline production increased last week, reaching an average of 9.6 million barrels per day , supply remains insufficient to keep prices low.
This price increase directly affects consumers, who will see increases in their transportation costs. Currently, the national average gasoline price is $3.16 per gallon , which represents a 4-cent increase since last week. Although this increase is relatively small, it is expected to continue in the coming days due to summer gasoline and seasonal changes in production.
For drivers, this can mean additional expenses for daytime or long-distance trips. In some areas, the price of gasoline has surpassed $4 per gallon , hitting drivers hardest in higher-priced states like Hawaii, where the average price is $4.52 .
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