Retail Gas Prices Up in Spring Swing

Gas prices are headed up again as Spring approaches and the West enjoys a mild winter. According to the Energy Information Administration gas prices are up nearly $0.20 per gallon even though oil futures have fallen to near $60 per barrel.

Falling gasoline inventories from decreased refinery production and fewer imports have been to blame according to some energy analysts. U.S. motor gasoline inventories fell by 3.8 million barrels to 216.4 million barrels, 3.9% lower than a year ago.

As the RVIA has reported in the past though, higher gasoline prices have little effect on RV travel. Historically there has been little correlation between rising gasoline prices and RV sales growth as it represents a very small portion of the cost of RV ownership (see article).