Why Gas Prices (almost) Always Peak in Spring, Not Summer

Memorial Day, the unofficial start of summer, is more than six weeks away. But still, this year's highest gas prices could be closer than motorists think.The perception that gas prices peak in the summer is more myth than reality, much like the belief that Black Friday is year's biggest shopping day.Since 2010, national gas prices peaked on average on May 10 and as late as early June, said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. And he also noted that gasoline prices bottomed out on July 5 last year and would have peaked in April if not for the post-Hurricane Harvey spike, according to GasBuddy data.The springtime surge in gas prices — like what we are seeing now — is the result of refineries switching their gasoline blends for the summer. The federal government requires refiners to change their mix to reduce emissions that contribute to smog, which is created when car and industrial emissions are cooked by the summer sun.  Continue reading...

Copyright The Dallas Morning News
Contact Us