Robert Rapier | Senior Contributor for Forbes
Although it wasn’t strongly emphasized in the recent discussions on the rise in gasoline prices, those prices to rise nearly every spring. But why does it happen?
There is no question that it does happen. If you check the history of gasoline prices at the U.S. Energy Information Administration’s (EIA) website you can see that gasoline prices almost always rise between January and May. In fact, this happens about 90% of the time.
Last year was an exception because of the plunge in energy demand due to the Covid-19 pandemic, but prior to 2020 gasoline prices had risen in the first five months of the year for more than 20 years in a row.