WASHINGTON (Sputnik) — The AAA noted that as US refineries are preparing to produce the summer-blend gasoline, which is less prone to evaporate in warmer weather, retailers are around the country are required to sell the seasonal gas by June 1.
"The national average price of gas climbed above $2 per gallon last Thursday for the first time in 2016, and average prices have increased for 21 consecutive days," the report stated. "Today’s average price of $2.04 per gallon is up six cents per gallon on the week and 30 cents per gallon for the month."
From March to April, refineries start to transition from producing and storing the summer gas ahead of the June 1 deadline, and usually "sell-off" its existing supply, according to the AAA.
A reduced supply results in higher gas prices during the transition period because demand for gasoline starts to increase amid warmer weather, it pointed out.
The AAA also said that despite the recent increase in prices, the average gas price is still 39 cents per gallon less what it was a year ago.
