Summer Blend Makes Gas Prices Rise

With the summer driving season fast approaching, the price of gasoline continues to climb, pushing the average price beyond $2 per gallon, according to a new report by AAA. Despite increasing for 36 of the past 41 days, the national average is at its lowest price point for this same date since 2009.

"The average price of $2.06 per gallon represents an increase of two cents on the week and 24 cents on the month. Pump prices continue to reflect year-over-year discounts, and drivers are saving 34 cents per gallon versus this same date last year," the organization noted.

Meanwhile, despite the continuing demand for larger vehicles, the average fuel economy or window-sticker value of new vehicles sold in the U.S. in March 2016 was 25.3 mpg—unchanged from the revised value for February 2016, the University of Michigan reported.

Fuel economy is down 0.5 mpg from the peak reached in August 2014, but still up 5.2 mpg since October 2007 when the university began keeping records. In short, the mileage rating for these bigger vehicles continues to improve enough to keep the number steady.

However, the run of below-$2-per-gallon gas may be over, at least for the national average, for some time as refineries are in full swing with its summer-blend gasoline.

AAA said that with crude oil remaining relatively part of the price increase at the pump over the last month has been driven by switchover to aforementioned seasonal gasoline at refineries has already taken place, and this special blend of fuel has begun to make its way to fuel terminals in many parts of the country.

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