Why Gas Prices Are Rising When They Are Usually Dropping This Time of Year
In case you haven’t noticed, there is usually a cycle to when gas prices increase and when gas prices decrease. While there are a lot of factors that affect how much you will pay for gas on any given day, including inflation, supply and demand and where you live, in general there are a few things that are usually predictable.
Usually, gas prices increase in the spring. This is due to the fact that people tend to travel more over spring break and when kids get out of school for the summer, but an increase in travel isn’t the only reason prices tend to increase in the spring. It’s also due to a gas blend that is used during the warmer summer months. This summer blend usually costs more than the regular gas blend we purchase the rest of the year.
Gas prices tend to decrease in the fall. That’s partly due to the fact that the summer blend isn’t being used anymore. That’s also partly due to the fact that when the temperature drops and kids go back to school, people aren’t traveling as much.
It’s November. We’re clearly not buying a summer blend of gas at the gas station, and kids are in school. That’s makes it highly unusual that gas prices are going up instead of down.
There are several reasons you might have sticker stock at the pump. Watch the video below to find out why gas prices are rising when they’re usually dropping and to find out how long we can expect gas prices to keep going up.
Are rising gas prices going to impact your travel plans? Have you been traveling more than usual lately? How much does gas currently cost where you live? How high do you think gas prices will go before they start dropping or at least level off?