🚗Gas prices are expected to rise 20 to 50 cents per gallon during peak travel season.
🔋Electric vehicles and hybrids are becoming more popular and impacting gasoline demand.
💲The cost of EVs is higher upfront, but they can save drivers money in the long run.
🛢️Refinery maintenance and the transition to summer gasoline can lead to higher gas prices.
🌍Events in the Middle East and global refinery capacity affect gas prices.
How much will gas prices increase during peak travel season?
—Gas prices are expected to rise 20 to 50 cents per gallon.
Are electric vehicles impacting gasoline demand?
—Yes, electric vehicles and hybrids are becoming more popular and affecting gasoline demand.
Are EVs more cost-effective than traditional cars?
—EVs can be more cost-effective in the long run, but the upfront cost is higher.
What factors contribute to higher gas prices?
—Refinery maintenance, costly summer gasoline, and rising demand are factors that can lead to higher gas prices.
What are the key catalysts to watch for higher gas prices?
—Events in the Middle East and changes in global refinery capacity can impact gas prices.
00:00Gas prices are ticking slightly higher as we head into peak travel season.
00:26Gas prices could rise another 20 to 50 cents a gallon before Memorial Day.
01:18Electric vehicles and hybrids are increasing in popularity, impacting gasoline demand.
03:27The cost of EVs is higher upfront, but they can save drivers money in the long run.
05:19Refinery maintenance and the transition to summer gasoline can lead to higher gas prices.
