AAA is warning motorists that they could experience a sharp increase in gas prices over the next few months, citing government reports and price data.
According to the Energy Information Administration’s (EIA) Weekly Petroleum Status Report for the week ending on Feb. 16, U.S. exports of gasoline and crude oil took big leaps
“There is currently tremendous volatility in the oil and gasoline market. Crude oil is selling at high prices compared to previous years and domestic gasoline demand has been high most of the winter among the factors all driving gas prices up and draining consumers wallets,” said Georjeane Blumling, AAA Tidewater Virginia spokesperson. “This spring, consumers may have to make decisions on where they can cut costs to cover gas prices that are potentially 40 cents more per gallon.”
The average price of a gallon of regular unleaded gas in Hampton Roads is currently $2.28, according to AAA, which is 6 cents below the state’s average and 23 cents below the national average; however, the price per gallon for Hampton Roads is about 24 cents higher than the average price last year, according to gas price indexes maintained by AAA.
AAA does not expect the national gas price to spike as sharply as it did between 2011 and 2014, when the price per gallon average was $3.47.
“Motorists will start to see gas prices make their spring spike in early April. That is when refinery maintenance is expected to be wrapped-up and the switchover to more expensive summer-blend gasoline kicks in along with warmer weather and typical demand increases,” Blumling said. “Consumers can expect prices to likely increase throughout April, May and into the start of summer.”
Some fuel saving tips from AAA:
- Slow down. The faster you drive the more fuel you use. Every 5 mph over 50 mph is like paying an additional $0.18 per gallon, according to the Department of Energy
- Carpool by ride-sharing or mass transit
- Do not use your car to store heavy items. The heavier your car, the more fuel it uses
- Combine errands. If possible, park in a central spot and walk from place to place
