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AAA says Pump Prices are Dropping Fast with Summer approaching

 

AAATampa, FL – AAA reports that since Memorial Day the national average dropped six cents on the week, following a consistent downward trend.

The decline is unusual for this time of year. Pump prices usually trickle higher during the summer months due to increased demand. However, the latest Energy Information Administration (EIA) report reveals that total domestic gasoline inventories jumped a million bbl last week, helping to push pump prices lower.

According to AAA, U.S. Gasoline Inventories continue to grow. (AAA)

According to AAA, U.S. Gasoline Inventories continue to grow. (AAA)

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AAA says Gas Inventory Increases, Demand Grows

 

AAATampa, FL – AA reports that increased stocks of gasoline continue to push pump prices lower, according to new data from the Energy Information Administration (EIA).

In its latest weekly petroleum report, EIA revealed that total domestic inventories of gasoline grew by nearly a million bbl last week and now sit at 234.9 million bbl. At the same time, gasoline demand increased by 436,000 b/d to 9.9 million b/d.

Increased gasoline inventory may help keep pump prices down as summer driving season gets underway. (AAA)

As vacationers hit the road, they will find a quarter (25 percent) of all gas stations across the country are selling gas Increased gasoline inventory may help keep pump prices down as summer driving season gets underway. (AAA)

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AAA says Gas Prices drop Seven Cents at the Pump

 

AAATampa, FL – AAA says that today’s national average is $2.74, which is seven-cents cheaper than last week, 13-cents less than a month ago and 18 cents cheaper than a year ago. Nearly every state’s gas price average is cheaper than a week ago, a month ago and a year ago. 

“Refinery utilization in the United States is at its highest level since early January, resulting in overall gasoline stocks at healthy levels to meet robust summer demand. Prices are dropping due to cheaper crude oil and at the same time U.S. supply is keeping pace with demand,” said Jeanette Casselano, AAA spokesperson.

Consumers see Summer Savings at the Gas Pump. (AAA)

Consumers see Summer Savings at the Gas Pump. (AAA)

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AAA reports Deadly Behaviors of Teen Drivers

 

AAAWashington, D.C. – AAA says that over the past five years, nearly 3,500 people have been killed in crashes involving teen drivers during the 100 Deadliest Days, the period between Memorial Day and Labor Day, when the number of crash fatalities involving a teen driver historically rise.

New crash data from 2013-2017 reveals major factors contributing to fatal teen crashes during the summer driving period.

Fatal teen crash rates show drinking and driving, speeding and distraction are among top killers on the road during summer. (AAA)

Fatal teen crash rates show drinking and driving, speeding and distraction are among top killers on the road during summer. (AAA)

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AAA says Americans Numbing to Gas Pump Prices

 

AAAWashington, D.C. – AAA says Americans are changing their perception of what they consider “too expensive” when it comes to filling-up at the pump. AAA’s 2019 Gas Price survey found that 50 percent of consumers think paying $3.00/gallon is too high – an increase of 30-cents from last year when half of consumers reported $2.70 as too expensive.

AAA Forecasts Summer National Gas Price Average to Drop to $2.70. (AAA)

AAA Forecasts Summer National Gas Price Average to Drop to $2.70. (AAA)

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AAA reports Gas Prices continue to decline

 

AAATampa, FL – AAA says that today’s national average is $2.81, which is two cents cheaper than last week, eight cents less than last month and 13 cents less than last year.

With the exception of the Rockies states, Alaska and Indiana, motorists across the country are saving as much as 23 cents/gallon to fill up as compared to last month.

AAA says Pump Prices Continue to Push Lower for Majority of Motorists. (AAA)

AAA says Pump Prices Continue to Push Lower for Majority of Motorists. (AAA)

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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)

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AAA reports that since the beginning of May, National Gas Price Average Drops by over a Nickel

 

TAAAampa, FL – AAA says the vast majority of the 37.6 million Americans who hit the road this past Memorial Day weekend found savings at the pump compared to last year’s holiday. Today, 42 states and Washington, D.C. have gas price averages that are less expensive year-over-year, with Floridians (-31 cents) seeing the largest yearly change. Motorists in West Coast states are the exception, paying nearly double-digits more than last May to fill up.

National Gas Price Average cheaper than last May. (AAA)

National Gas Price Average cheaper than last May. (AAA)

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AAA: Why Aren’t Americans Plugging in to Electric Vehicles?

 

AAAOrlando, FL – AAA’s latest survey reveals that despite many Americans having interest in electric vehicles, when asked if most vehicles will be electric by 2029, only 4 in 10 said yes.

Yet, a separate study AAA conducted earlier this year found that more than half of Americans believe that in this same time frame most cars will have the ability to drive themselves – a reality that is much less likely to happen.

AAA finds interest in going green remains steady but consumers still slow to adopt Electric Vehicles. (AAA)

AAA finds interest in going green remains steady but consumers still slow to adopt Electric Vehicles. (AAA)

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AAA reports Total United States Gasoline Stocks Jump

 

AAATampa, FL – AAA says that gasoline supplies across the country increased by 3.7 million bbl last week, according to new data from the Energy Information Administration (EIA).

At 228.7 million bbl, total gasoline inventories in the U.S. are 5.2 million bbl lower than were they were in mid-May 2018. One of the reasons stocks increased because U.S. gasoline exports fell to the lowest rate in 2019 and the weakest since December 2018.

Increased Gas Inventories in the United States could help keep pump prices down this summer. (AAA)

Increased Gas Inventories in the United States could help keep pump prices down this summer. (AAA)

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