What You Need to Know About Gas Prices This Summer

(FinancialHealth)- You may have noticed that gas prices have been on the rise. With the average nearing $3/gallon, you may be wondering what this will mean for summertime when gas prices usually see a spike. Could the gas prices go even higher?

A Return to Normal

After a year of low gas prices with COVID, the higher numbers at the pump could feel shocking. Added to that, with the economy opening up and more Americans being vaccinated, there could be an increase in summertime travel. Unfortunately, that could also equal rising gas prices–perhaps even above the $3/gallon we’re seeing now. The spike in gas prices could actually represent a return to normal where more travel and demand for gas could raise gas prices at the pump.

While the rising gas prices likely aren’t welcome, the return to normal could be greeted with sighs of relief. Summertime could see a return of vacations, concerts, and events that you may have missed over the last year. Gas prices might just be one factor in your summer plans.

What Can You Do?

When planning summer travel, allocate more room in the budget for higher gas prices. Also, consider walking or using bicycles when possible to cut costs while reducing your carbon emissions. And don’t forget to check out these tips to see how you can save on gas this summer.

~Here’s to your Financial Health!

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