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AAA reports Crude Oil Stocks take a Major Step Back as Gas Prices Stabilize

Posted By Clarksville Online News Staff On Saturday, September 7, 2019 @ 4:00 pm In News | No Comments

AAATampa, FL – AAA says that in the Energy Information Administration’s latest report, total domestic crude stocks fell by 4.8 million bbl last week. Despite the drop to 423 million bbl, stocks are approximately 21.5 million bbl higher than were they were at the end of August 2018.

The higher inventory levels have contributed to cheaper crude prices, helping to keep gas prices less expensive than last summer.

AAA Forecasts National Gas Price Average to Land at $2.40 or Lower This Fall. (AAA)

AAA Forecasts National Gas Price Average to Land at $2.40 or Lower This Fall. (AAA)

If crude inventories remain high, especially as gasoline demand drops with the fall driving season, pump prices could be as cheap as $2.40 this fall.

That’s another 17 cents cheaper than today’s national average of $2.57.

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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