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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)

Imports also contributed to stock growth.

Gasoline imports nearly doubled to 1.35 million b/d, which is the highest rate since 2011 and one of the highest import rates ever recorded by EIA since the federal agency began tracking the data in 1982.

Increased gasoline stocks amid robust summer demand may help to suppress pump prices.

Since Monday, the national average for unleaded regular gas has dropped a penny to $2.84. For the 37.6 million motorists hitting the road for Memorial Day they can expect gas prices to be cheaper than last year with the exception of a few states in the West Coast and Rockies region.

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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