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Gasoline Demand Hits Record Highs As Pump Prices Surge

The demand for gas has reached a record high. Photo Credit: Wikimedia Commons
National gas prices are on the rise. Photo Credit: AAA

Gasoline demand has hit an all-time high, as prices at the pump continue to rise to the highest point since a peak in the summer of 2015.

According to the Energy Information Administration, at month's end, gasoline demand was at 9.857 million barrels a day, the highest level ever recorded in April.

This past week, Connecticut (10 cents), New Jersey (10 cents) and New York (seven cents) were among six Northeast states to have the highest increases nationally in price per gallon, with motorists now shelling out $3 or more per gallon in much of the area.

The tristate area remains one of the most expensive places to buy gas in the country, with an average of $2.91 in New York, $2.83 in New Jersey and $2.92 in Connecticut.

According to an AAA New York spokesman, the price has been affected by multiple factors, including the price of crude oil overseas and an increase in demand nationwide. It also comes at a time when refineries begin the process of transitioning from a winter blend of gasoline to a more eco-friendly, expensive, summer blend.

Prices are only expected to keep rising, according to the latest report from AAA. The average price is up five cents from a week ago, 18 cents from a month ago and 38 cents from a year ago.

“Pump prices are causing sticker shock across the country,” AAA spokesperson Jeanette Casselano noted. “Gas is selling at $2.26 or more at every gas station in America. More so, 13 percent of stations have pump prices set at $3 or more.

“Expensive crude oil prices, unrest in the Middle East, strong domestic demand, record production rates and global oil supply surplus have created the perfect storm to drive spring gas prices toward new heights,” Casselano noted.

“AAA forecast that two-thirds of the 88 million families taking vacations this summer plan to drive to their destination," Casselano said. "With more expensive gas prices on the horizon, travelers should plan now for the additional costs."

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