Refinery outages in the United States are colliding with the beginning of driving season, and analysts are warning that drivers could see a spike in prices at the pump.
It couldn’t have come at a worse time. The national average price for a gallon of gasoline in the United States is currently sitting at $3.412—up from $3.396 yesterday an up a hearty $0.156 per gallon 4.8% from $3.256 per gallon just a month ago. Still, prices are down year over year, with the average price for a gallon of gasoline selling for $3.466 this time last year, according to AAA data.
And prices are set to climb even higher, according to some analysts. “There is every reason to believe gasoline prices will screech even higher going forward,” Tom Kloza, head of energy analysis at Oil Price Information Service, said according to Reuters. The reason for the higher trend is higher summer travel demand which is about to kick off, declining gasoline inventories, and refinery outages. U.S. refineries operated at 86.
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