Refinery issues led to gasoline prices in many parts of the United States spiking last month, but June could see some relief at the pump, as refinery maintenance is completed in several affected areas.
Refinery issues led to gasoline prices in many parts of the United States spiking last month, but June could see some relief at the pump, as refinery maintenance is completed in several affected areas. This was posited this week by gasoline analysts, including several from the American Automobile Association or AAA.
Last month, the national gas price average was up by 2.96 percent, or 10.4 cents per gallon, marking the first monthly increase since February 2013. This was expectedly a nuisance for many motorists preparing for the busy summer driving season. The national average had notably increased for 17 consecutive days (May 6 to 22) to $3.66 per gallon on the 22nd, which was also noted by the AAA as the longest streak of gas price upticks since February.
However, gas prices have steadily gone down for nine consecutive days and are at $3.61 per gallon as of May 31.
“Consumers in the Midwest and other parts of the country faced tremendous frustrations due to rapidly rising gas prices in May,” observed AAA spokesperson Avery Ash. “Continued refinery maintenance and other production issues led to tight supplies and a spooked market for much of the month. After seeing prices decline this spring, many motorists were unhappy to pay higher prices heading into the busy travel season.”
Ash also predicted that with refinery maintenance almost over, gas supply issues “should ease over the next month (June)” and drop below the $3.50 threshold before the month ends, contingent on refineries transitioning properly from maintenance mode to full production. Some maintenance hitches, however, could result in “unpredictable problems” in the coming weeks, so it may be imperative for motorists not to get their hopes up just yet.