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AAA reports U.S. Gasoline Stocks rose Ahead of Memorial Day Weekend

 

AAATampa, FL – AAA says that just before the busy Memorial Day weekend, refineries across the country boosted their crude utilization rate to 91.2% — a significant increase to a spring season which has seen utilization in the 86-88% range, mostly due to unexpected and planned maintenance.

The higher rate helped boost gasoline stocks by 2.2 million bbl to 230.9 million bbl last week, according to the Energy Information Administration’s weekly petroleum status report for the week ending on May 24th.

AAA says increased Gas Inventories will help keep Pump Prices down this Summer. (AAA)

AAA says increased Gas Inventories will help keep Pump Prices down this Summer. (AAA)

Increased gasoline production and higher stock levels can help to suppress pump prices amid robust gas demand, which fell slightly last week from 9.43 million b/d to 9.39 million b/d.

With summer road trips poised to drive higher gas demand rates, increased gasoline stocks will play an important role in helping to keep pump prices in most states under the $3.00/gallon mark during the busy driving season. Since Monday, the national average for unleaded regular gasoline has held steady at $2.82.

About The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9.6 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. 

ACG belongs to the national AAA federation with more than 59 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile.

Visit AAA on the Internet at AAA.com.


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