AAA: Prices may rise at the pump

 

The Valero refinery works glow in the dusk light in Port Arthur, Texas. (Michael S. Williamson/The Washington Post)
A refinery works glow in the dusk light in Port Arthur, Tex. (Michael S. Williamson/The Washington Post)

AAA warns that after hitting a 33-month low in November, gas prices are going to rise. The automobile club, which monitors gas prices nationwide, says that historically, prices tend to fall in February when snow hits the Northeast and Midwest. Prices typically rise with the daffodils, but the upswing is occurring earlier this year,

Nationally, the average price per gallon could reach $3.55-$3.75 per gallon, AAA said. Last year, the national average soared 49 cents per gallon over 41 days before peaking at $3.79 per gallon on February 27, the AAA Daily Fuel Gauge Report shows. Similarly, gas prices leapfrogged 56 cents per gallon in the spring of 2012. They skyrocketed 86 cents per gallon spring 2011.

“Although gas prices are 26 cents cheaper than they were at this time last February, that might not last too much longer,” said John B. Townsend II of AAA. “Winter weather, weak demand and sufficient supplies have kept gas prices relatively low recently, but this trend is unlikely to last much longer. Filling up at the pump will be a lot more frustrating as prices spike due to refinery maintenance.”

In the District, regular gasoline currently costs $3.52 per gallon, which is only lower than five states. Since 2011, the District has recorded 126 days of gas prices at $4 or more. Across the region, prices are averaging $3.31 per gallon, compared to $3.58 at this time one year ago. A projected half dollar per gallon price increase would cause area consumers to pay in the neighborhood of $3.87 by springtime. Maryland drivers could see spring prices as high as $3.83 (it’s $3.33 a gallon now). Virginia motorists may pay as much as $3.64 per gallon.

By late June the national average could drop to $3.30-$3.40 per gallon,  AAA forecasts. By October, gas prices should start a decline towards the end of the year as demand weakens.

“Unexpected developments and events overseas could change AAA’s price outlook considerably, but there is little doubt that gas will cost more than most of us would like in 2014,” Townsend said. “The best advice for dealing with another tough year is to follow simple gas savings tips such as shopping around, maintaining your car and driving the speed limit.”

 

 

Ashley Halsey reports on national and local transportation.
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