Rising crude oil prices – now at $62 a barrel – have pushed the average pump price per gallon to new highs. Our gas price ticker has seen an increase of 15 cents in the past week, pushing up average gasoline prices per gallon in the U.S.A. to $2.45 for regular. Drivers are feeling the pinch.
Average | Price |
Current | $2.41 |
Yesterday | $2.38 |
Month Ago | $2.15 |
Year Ago | $2.25 |
Highest Ever | $3.05 |
Seasonal Change – End of February Always Has Higher Gas Prices
Gas prices tend to fluctuate wildly this time of year because refineries begin to change production from the winter blends of fuels to the summer blends of fuel. The changeover often produces irregularities in the refining process such as mechanical malfunctions, overtime pay, and plant shutdowns. These unexpected events increase the cost of gasoline.
Demand of Hybrids Increasing
One method of measuring demand is search queries demand for hybrid related vehicles. In the past day we have seen a dramatic increase in the number of people searching for 'hybrid cars.' Our hybrid car buzz index has jumped 400% in the past week – signaling higher demand for hybrid cars, and based on the principle of supply and demand, higher hybrid car prices.
We recommend to hold off on your hybrid car purchases until late spring, and before the summer gas price spike. Check car prices now with a new car price quote online.
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