Why do fuel prices go up?

In a truck driving job a little difference in fuel prices goes a long way. A few more cents per gallon really adds up when you are filling about 130 gallons! It’s a sad fact, but gas prices go up. In fact, just this past week the national diesel fuel price climbed 9.1 cents. Have you ever wondered why the prices can’t just stay the same?

A lot of times, it seems that fuel prices go up as temperatures go up. Surly when summer arrives there always seems to be a peak in gas prices. But why is this and why do prices increase at other times throughout the year? In this article, you will find answers to these questions and more.

Gas prices fluctuate for a number of reasons. It is true that often in the summer gas prices go up. The reason for this is because more people are driving. Summer is the season for vacations and road trips. With an increased number of people driving, the value of fuel is higher. Therefore, the prices go up.

In fact, each time the value of fuel goes up, the prices do too. According to the Motor and Equipment Manufacturer's Association, the people of America drive almost 3 trillion miles per year. That's about 820 trips from the sun to Pluto and back! Fuel is always in high demand and as the demand goes up, prices go up.

Another reason why fuel prices might rise is complications. Whether these complications come from natural disasters such as hurricanes or earthquakes or from man made errors, complications at a refinery mean complications in your wallet. There are also maintenance matters. All refineries have to perform regular maintenance and, as all truck drivers know, maintenance slows performance. When performance slows, product quantity is less. Therefore, the demand and value go up and so do the prices.

Prices also go up when the world crude-oil market tightens and lowers inventories. These markets can tighten for any number of reasons such as war and threats or war, economic stress, setbacks in price negotiations, and overall appearance of need.

There are many reasons why fuel prices go up. Some of them are even things you never would have considered. The exact reason may not always be known, and we may not know how long they will stay up or if they will ever go back down. All we can really do is try to make the best out of what we have, although that may be easier said than done.

So, what can you do when fuel prices go up? Some people try to keep their driving down to a minimum when prices are too high, but a truck driver this is really not an option. But don’t worry, there are still plenty of things you can do to increase your fuel efficiency.

Look forward to our next article on fuel management which will include tips and advice from veteran truck drivers on how to keep the fuel expenses in your truck driving job manageable.

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