Gasoline prices achieve a 2016 high
Currently American drivers have to pay the highest prices for such a must-have commodity as gasoline, due to a combination of strong demand for this stuff and a seasonal drop in refinery activity. Furthermore, that’s not all, as gasoline prices keep climbing up.
On Tuesday, the average price for regular gasoline hit $2.041, as AAA’s Daily Fuel Gauge Report states. In general, gasoline prices have surged for 22 days, demonstrating a 30-cent hike for the whole month.
Financial analysts state that price hot spots are quite probable, because refinery maintenance season enters its prime.
Refineries are used to conducting seasonal maintenance exactly at this time of year, thus leading descends in production of oil products.
Refinery utilization appeared to be at 88.4% of capacity as of the week closing by March 18, thus showing an 89% weekly decrease.
By the way, refineries also made use of this time of year just to get prepared to produce a more eco-friendly blend of gas. Retailers actually expect this blend by the first day of June.