Topic: Saudi Arabia
Tampa, FL – Motorists saw little movement in pump prices this week. But gasoline could soon be on the rise as spring approaches due to refinery maintenance, an increase in driving and the switch to summer-blend fuels.
Currently, the national average for a gallon of regular unleaded gasoline is $2.283, up four-tenths of a cent from last week, down 5 cents from a month ago and 56 cents higher year-over-year.
Tampa, FL – Gas prices have fallen for eight consecutive days, reaching today’s national average price of $2.34 per gallon. The price of retail gasoline has retreated since last week with today’s average three cents less per gallon than one week ago, but ten cents more than one month ago and 43 cents more per gallon year-over-year.
The slight decrease in retail prices can be attributed to less demand and adequate supply, but this downward dip may only be temporary as the market awaits OPEC’s December monthly output report which is due out later this week.
Tampa, FL – The holiday season is in full swing, attracting an estimated 103.1 million American travelers. An estimated 93.6 million Americans are expected to take a road trip during the 11-day period (December 23rd – January 2nd).
Yet, despite the elevated demand for gasoline, prices at the pump remained unchanged throughout the Christmas weekend.
Colonial Pipeline Restored Service to Line 1 Sunday Morning
Tampa, FL – A major shift occurred in the oil markets last week, suggesting gas prices could soon plummet. Oil prices tumbled to 6-week lows, due to an unexpected record-high build in domestic crude oil inventories.
The crude oil forecast has now gone from an imminent $55.00-$60.00 a barrel range, to $40.00 a barrel or below – the same level as we saw last winter, when gas prices were less than $2.00 a gallon.
Tampa, FL – The national average price for regular unleaded gasoline has dropped six consecutive days after rising for 16 straight days to close out August. Today’s national average is $2.20 per gallon. Gas prices started turning lower heading into the Labor Day weekend, which marks the unofficial end to the summer driving season.
Today’s national average is two cents less than a week ago and 18 cents less than a year ago but 8 cents more than one month ago. The year-on-year discount persists but has closed more than 30 cents in just 20 days.
Tampa, FL – Gas prices may have hit their annual peak. The national average price for a gallon of gasoline has declined for eight consecutive days. Regionally, prices have been falling longer: 12 days in Florida (5¢) and Georgia (6¢), and 11 days in Tennessee (6¢).
“Gas prices usually hit their highest point of the year during the first six months and that could be what has happened in the past couple weeks,” said Mark Jenkins, spokesman, AAA – The Auto Club Group.
Oil market will keep gas prices volatile
Tampa, FL – Nationally, motorists are paying $2.11 per gallon, up 7 cents from last week, and the highest price at the pump since November 2015. The national average has remained above $2.00 a gallon for 25 consecutive days and could rise another 10-15 cents by Memorial Day.
“Many drivers saw gas prices jump up this week,” said Josh Carrasco, spokesman, AAA – The Auto Club Group. “Oil averaged $4.00 higher than last week, which put upward pressure on gasoline prices. Even though prices are up nearly 15 cents from a month ago, motorists are still enjoying a 30 cent savings year over year.”
Fuel Savings Approach $10 Billion in the First Quarter of 2016 Compared to the Same Period Last Year
Tampa, FL – Americans paid the cheapest quarterly gas prices in twelve years during the first three months of 2016. Motorists have saved nearly $10 billion on gas so far this year compared to the same period in 2015.
The national average price of gas during the first quarter was $1.86 per gallon, making it the cheapest quarter for gasoline since January-March 2004. Gas prices are expected to remain relatively low compared to recent years, though average prices could rise another 25 cents per gallon by Memorial Day.
Tampa, FL – Motorists are enjoying the lowest gas prices during this time of year since 2004. However, the current average remains at an all-time low since January 2009.
“Motorists are saving 60-70 cents for every gallon of gasoline compared to this time last year,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “But the price of oil increased last week, and gas prices rose for the third consecutive day. Georgia and Tennessee residents are seeing prices higher than this time last week, but recent increases in Florida have not exceeded price declines from early last week.”
Tampa, FL – Gas prices continue falling at a rate of a half cent a day, despite increases in the price of oil last week. Crude prices rose more than $3.00 last week, while the national average dropped 3 cents.
Pump prices have fallen 25 out of the past 30 days. The current average price for a gallon of regular unleaded is $1.80 nationwide, $1.83 in Florida, $1.73 in Georgia, and $1.61 in Tennessee.
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