Gas prices up sharply in the past week: Because it’s just that time of year

Virginia drivers are paying a lot more at the gas pump, with prices up 13.6 cents per gallon over the past week, averaging $3.37 per gallon at the start of business on Monday, per GasBuddy.

It’s not just us.

“Most Americans continued to see average gasoline prices march higher last week. The reason is the season: gasoline demand is rising as more Americans are getting out, combined with the summer gasoline switchover, which is well underway, and continued refinery maintenance,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

The national average price of gasoline is up as well, though more modestly, up 4.4 cents per gallon in the last week, averaging $3.44/gallon today.

What goes up, in terms of gas prices, this time of year, will, if not come down, at least soon stabilize.

“The madness should slow down in the next few weeks as we’ve seen positive data that refinery output is starting to increase, a sign that the peak of maintenance season could be behind us. In some positive news for Midwest motorists, the bp refinery in Whiting, Indiana that can process 440,000 barrels of oil per day is finally back to normal operations for the first time since an electrical failure happened in early February,” De Haan said.

“For now, gas prices will likely continue to trend higher, but the fever may break soon. When it comes to diesel, the news has been good – above-average temperatures have lowered heating oil demand, and average diesel prices are on the cusp of falling back below $4 per gallon,” De Haan said.