Pricy Petrol

While crude prices decline, pump prices are up. It’s because in summer we drive slightly more and refiners must switch to summer-blends which evaporate slower and cost more. Moreover, because there are many different summer fuel-blends required by the EPA, refiners have more pricing power than in winter when there are few. Thus, the average price of gasoline rises by about 50 cents from winter trough to spring peak.