Summer gas prices to be lower this year

IMAGE / Katie Valley

A gas pump at a Sunoco station in Arbula Township.

Gasoline prices this summer will be the lowest in six years, according to the Energy Department.

The national average is supposed to be 32 percent lower from a year ago, something America has been long overdue for.

Gas prices tend to reach their high point during summer months — starting about Memorial Day — when people travel more and take longer vacations.

A reason why prices tend to increase is that during the spring, energy companies conduct maintenance where refineries’ production capacity is limited until around May. Because of this, oil supplies can be compromised.

One thing many people do not know about gasoline is that it actually is produced differently during the summer months and that gasoline costs more than winter-grade fuel.

Twice a year, the U.S. fuel supply changes. Known as the seasonal gas transition, summer and winter gasolines are composed of different oxygenates, or fuel additives.

Summer-grade fuel burns cleaner than winter-grade fuel, which costs more.

Summer-grade fuel is more expensive for two reasons: one, because of the ingredients it contains and, two, because refineries have to briefly shut down before they begin processing summer gas.

Summer-grade fuel also burns cleaner than winter-grade fuel.

Gas prices this summer are expected to be at $2.45 a gallon, the lowest seasonal average since 2009.

Mr. Michael Whalen, economics teacher, said that although prices will be lower, there are factors that must be considered.

“I think that is an accurate expectation, but there is always an X-factor when it comes to gas prices,” Whalen said. “Further instability in the Middle East or Russia could impact global demand for oil and cause gas prices to rise more than originally thought.

“Additionally, Hurricane season always has the potential to cause gas prices to fluctuate dramatically depending on the storms’ impact on oil refineries.”

All in all, with the change to summer-grade fuel factored into the lowered cost of gasoline, prices should be at an acceptable level this summer.