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This Article is From Mar 02, 2018

U.S. Drivers to Pay Most in 3 Years for Gasoline This Spring

U.S. Drivers to Pay Most in 3 Years for Gasoline This Spring

(Bloomberg) -- The highest gasoline prices in three years may force U.S. consumers to change driving habits this spring, according to the nation's biggest motoring group.

Prices at the pump may climb to nearly $2.70 a gallon early April, the highest since the summer of 2015, amid increased demand and volatility in prices, according to AAA. Some states, like California, may even see a brief return of $4 a gallon.

AAA sees pump price rising amid higher demand and as crude gets more expensive.  Gasoline consumption may increase to 9.33 million barrels a day this year, according to the U.S. Energy Information Administration's Short-Term Energy Outlook.

February average prices were $2.56, according to AAA data. While pump prices have dipped in recent weeks, this is not a trend consumers should expect to linger, AAA said.

A survey found most consumers would change their driving habits or lifestyle to offset higher gas prices, AAA said in the report.

To contact the reporter on this story: Milana Vinn in New York at mvinn@bloomberg.net.

To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Debarati Roy

©2018 Bloomberg L.P.

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