Topic: OPEC

AAA reports National Gasoline Average Jumps a Nickel on the Week

April 8, 2019 |

AAA 

Tampa, FL – At $2.74, the national gas price average increased a nickel on the week and is eight cents more than last year at this time. And compared to one month ago, gas prices are 28 cents more expensive.

As demand holds steady and inventories continue to tighten, motorists continue to see gas prices increase in every region.

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AAA says Motorists Already Considering Adding at least One Summer Road Trip If Gas Prices Remain Low

April 7, 2019 |

AAA 

Washington, D.C. – Spring fever may be in the air, but American motorists already have summer road trips top of mind.

AAA’s latest Gas Price survey found that if gas prices remain low, 1 in 3 Americans (33 percent) would likely plan another summer road trip while 27 percent would increase the distance of one – with Generation X more likely to do both than Baby Boomers.

AAA Forecasts Spring National Gas Price Average to Reach $2.75. (AAA)

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AAA reports National Gas Price Average Jumps Eight Cents on the Week

March 27, 2019 |

AAA

Tampa, FL – With an eight-cent jump on the week, at $2.62, the national average continues to trend more expensive since mid-February. While today’s national average is nearly a quarter more expensive than last month, it is only two cents more expensive than last year at this time.

“Thanks to increasing demand and tightening gasoline stocks across the country, March gas prices came in like a lion and will not go out like a lamb,” said Jeanette Casselano, AAA spokesperson.

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AAA says National Gas Price rises Seven Cents

March 24, 2019 |

AAA 

Tampa, FL – AAA says that at $2.54, the national gas price average is 7 cents more expensive on the week and 23-cents more than last month. However, today’s price is just as expensive as the same day a year ago.

In fact, for the first time since the end of November last year, the national gas price average the past four days was identical or a penny more expensive year-over-year.

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AAA says Crude Inventories Rise Less Than Expected

February 10, 2019 |

AAA

Tampa, FL – According to AAA At the end of last week, total domestic crude oil inventories rose less than expected – a build of only 1.3 million bbl to total 447.2 million bbl, according to new data from the Energy Information Administration (EIA).

The slight build in crude inventories was supported by a sharp drop in demand for gasoline, which fell by approximately 500,000 b/d to 9.1 million b/d, according to EIA. With crude stockpiles growing less than anticipated, crude prices will likely continue to gain ground.

AAA reports Higher Oil and Pump Prices Likely Ahead.

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AAA reports National Gas Price Average Inches Up for First Time in Three Months

January 27, 2019 |

AAA

Tampa, FL – At a penny more expensive on the week, the national gas price average ($2.25) increased for the first time since October. Despite the increase, today’s average is still cheaper month-over-month (-14 cents) and year-over-year (-28 cents).

“The price of crude oil has been slowly, but steadily increasing since the beginning of the year, which is starting to push up pump prices,” said Jeanette Casselano, AAA spokesperson.

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AAA reports Tennessee Gas Prices rise One Cent

January 22, 2019 |

AAA

Nashville, TN – Tennessee Gas prices are holding steady right now, but face upward pressure, due to recent strength in the oil market and rising wholesale gasoline prices. The average price for gasoline in Tennessee is $2.01 per gallon, but should rise another 3-5 cents this week. 

Tennessee motorists are paying 1-cent more than a week ago. However, the average price is still 7 cents less than last month, and 35 cents less than this time last year. Despite the anticipated uptick, the state average remains 72 cents per gallon less than last year’s high, and 68 cents per gallon less than what Tennessee motorists paid in October. 

Gas Prices at the Pump Rise on Renewed Oil Strength. (AAA)

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AAA says Gasoline Demand Hits Lowest Level in Nearly Two Years Pushing Pump Prices Even Cheaper

January 8, 2019 |

AAA

Tampa, FL – The latest Energy Information Administration (EIA) data registers gasoline demand at 8.6 million b/d for the week ending December 28th – the lowest level on record since February 2017.

Despite record motor vehicle travel for the holiday, demand was down nearly 900,000 bbl, suggesting that demand this winter could be lower than expected.

Prices at the Gas Pump continue to drop. (AAA)

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AAA says 2019 Rings in Cheapest New Year Gas Prices Since 2016

January 6, 2019 |

AAA

Tampa, FL – The New Year has ushered in the cheapest national gas price average in three years. To boot, at $2.25 today’s national average is even one cent cheaper than on January 1st, 2019 and trends indicate that pump prices will likely remain cheap for at least the first half of the month.

Today, 29 state gas price averages are at or below the national average of $2.25 with Missouri touting the cheapest at $1.83. Hawaii ($3.34) carries the most expensive average.

AAA expects prices to remain the same despite OPEC production cuts. (AAA)

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AAA reports Prices Fall Below $2.00 Per Gallon in Nine States

December 27, 2018 |

AAA

Tampa, FL – Nearly 20 percent of states are currently enjoying prices below $2.00 per gallon. Nationally, retail averages have dropped ­­­83 of the past 90 days. The national average for regular unleaded gasoline currently sits at $2.30 per gallon, which is six cents less than one week ago, 24 cents less than one month ago and 16 cents less than at the same time last year.

Heading into 2019, gasoline demand is expected to dwindle during the month of January, an expected change following the busy holiday travel season.

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