Fuel stations are selling gasoline, diesel, propane, and kerosene at a much higher price than they were at the start of the century, and that is a problem for consumers.
A recent study from the Energy Information Administration (EIA) estimates that fuel prices have increased by $5.6 billion since 2006, but the increase has been even greater when it comes to diesel and kero oil.
The average price for fuel at the pump in the United States rose by an average of 22.7 percent in the first half of 2017.
That’s $1,800 per gallon.
The EIA has also shown that the price of natural gas in the US increased by 9.6 percent between 2012 and 2016.
In 2017, fuel prices increased by an additional 3.9 percent and oil prices increased 13.3 percent, according to the EIA.
The cost of diesel fuel at pumps is up by more than 40 percent, the EAA says, and natural gas prices have risen by an extra $8.3 billion.
Fuel stations should drop prices on gasoline and ketonite.
The industry has done a poor job of managing prices, says Dan Borkowski, director of fuel prices and pricing analysis at EIA, adding that the EIAA found that fuel stations were only able to manage their fuel prices in 2018 and 2019.
“This is a very poor record,” Borkowksi says.
“It’s a very long, very slow track for fuel prices to come down.”
Borkowitz says that as prices rise, fuel stations have had to increase their prices.
“But they’re still paying higher prices for gasoline,” he says.
He says that the industry has a lot of work to do on its pricing and marketing.
He suggests that the retail price for kerosine at the pumps is $3.65 a gallon, which is more than twice as much as it was when the EIE began tracking fuel prices.
The new EIA report finds that the fuel price of propane has increased by nearly 25 percent in just five years.
That increase is almost entirely driven by increased imports from Canada and Mexico.
Borkovsky also noted that the average price of keroside oil at the gas pumps has risen by nearly 50 percent in only four years.
Fuel pumps have not been able to effectively manage prices, because the government and the companies they work for have not adequately priced fuel for consumers, he says, noting that fuel pumps have to rely on the government to pay for the fuel.
“Fuel stations are going to have to do a better job of pricing gasoline and propane,” he explains.
Bepo, the fuel stations industry trade group, said that the costs of fuel are being borne by consumers.
“There’s been an enormous amount of fuel pump consolidation and we’ve seen the cost of fuel go up at a pace that is unprecedented,” Bepop said.
“The problem for the industry is they’ve been unable to adjust to the increase in prices.”
The cost to consumers of fuel has been a topic of debate over the years.
The EPA has issued numerous studies showing that fuel costs have increased at an accelerated pace during the Obama administration.
BEPO said in a statement that the increase is a result of the increased cost of natural gasoline and increased price of gasoline in some states.
“While we don’t know exactly how much the cost will go up in 2020, it’s clear that the cost is going to go up,” the statement said.
The fuel price hike is just one of many price increases that have been imposed on fuel consumers, Bepoop says.
The rising cost of gasoline has been particularly harmful to the poor, he adds.
“When we have a higher price for gas, the average household has less money for groceries, and when you have a bigger price increase, people are less able to spend the extra money,” he said.
While the price increase is causing more households to turn to fuel, the cost to the companies responsible for maintaining fuel pumps and fueling stations has not been the only factor that has affected fuel prices, BEPOP says.
While fuel pumps are not required to disclose the cost for fuel they pump, many fuel pumps require a fee to be paid to the government for the privilege of pumping fuel.
Companies that are paid for the use of fuel pumps must also disclose how much money they receive for each gallon of fuel that is pumped into the system.
Fuel pump prices have skyrocketed in recent years, and BEPPO says that fuel price increases will continue until the price is reduced to what it is.
“At this point in time, fuel pumps, if they continue to pump at a rate of over 40 percent above the inflation rate, will need to raise their rates to reflect the increased costs of running fuel pumps,” the group said.
Fuel prices have also been increasing faster than the average wage, the group says.
Fuel costs are more expensive for consumers because of the federal