Fuel prices refer to the cost of gasoline and diesel that consumers pay at the pump. These prices can fluctuate based on various factors, including crude oil prices, supply and demand, and geopolitical events. When crude oil prices rise, fuel prices typically increase as well, affecting transportation costs and consumer spending. In addition to crude oil prices, local taxes and regulations can also impact fuel prices. Different regions may have varying tax rates, which can lead to significant differences in what consumers pay. Seasonal changes, such as increased travel during summer months, can further influence fuel demand and pricing.