Posted in: Gas Prices,
by Patrick DeHaan on May 3, 2013 12:29 PM
The good times do appear over, especially as premium fuel becomes less of a staple at the pump as sales decline of the fuel. According to Energy Information Administration numbers, premium fuel amounted to just 8.3% of all motor gasoline sales, an 85% drop from the month of peak premium consumption in December of 1988. Such a massive decline in the consumption of premium fuel has likely lead refineries to produce less of the fuel as consumption has been curbed. The drop in production likely means premium is becoming more of a specialty fuel and subject to additional pricing volatility as less supply is produced.
So what's there for motorists required to use premium? Flock to the stations that still offer the 20-cent per gallon differential between regular and premium. That's what I do- utilize GasBuddy to locate the cheapest premium. In my experience, retail chains tend to offer better pricing on premium gasoline than independently owned stations, so keep that in mind. Other than that, be ready for what the future holds- higher prices for premium gasoline.