In the spring, there is often an increase in the price of fuel. But what is the reason? Don’t worry, we’ll explain everything to you.
You’ve probably noticed it if you regularly go to the pump: the price of fuel has increased significantly.
An increase in the price of fuel
This can be explained by several reasons, such as inflation, taxes or even geo-political conflicts. But did you know that gasoline and diesel prices also tend to increase in spring. This is completely normal and usual, although it can obviously come as a surprise. But what is the reason for this sudden seasonal increase ? Don’t worry, we’ll tell you everything about it. First, it is important to note that the rise in gasoline prices this spring is not a uniform global phenomenon. It is particularly visible in certain regions of the world, notably in North America and Europe. In the United States, for example, gasoline and diesel prices can increase by about 10 to 20 cents per gallon between February and May, according to the Energy Information Administration (EIA). And so there is nothing surprising or unusual about this situation. But what explains this? Because the reason is actually quite simple, you will see.
When fuel demand increases
In fact, if the price of fuel increases sharply in the spring, it is mainly because demand is also increasing. Warmer temperatures encourage people to travel more, whether for vacations or daily commutes. Motorists come out of winter and hit the road for outdoor getaways, which increases the demand for fuel. Higher demand, combined with the additional costs of producing summer fuel, puts upward pressure on prices. Indeed, in spring, refineries produce fuel designed more for the summer season. The latter is formulated to reduce emissions of air pollutants, such as nitrogen oxides, which are of greater concern during hot months. This transition requires additional costs for refineries, which is often reflected in prices at the pump. However, the additional cost linked to this change remains minimal compared to that caused by the increase in demand during good weather.
Other parameters can also be taken into account in the increase in fuel prices.
