Tampa, FL – The national gas price average is $2.54, which is three cents cheaper than last week, a penny less than last month, yet 30-cents more than a year ago.
Gas prices edged cheaper in the last week as gasoline stocks grew, measuring at 258 million bbl – a stock level not recorded by the Energy Information Administration (EIA) in nearly a year.
Tampa, FL – AAA says last week, gas demand hit 8.56 million b/d, according to new data from the Energy Information Administration (EIA).
The current rate is in line with last year’s rate seen in mid-January, a time that typically brings lower demand due to winter weather. EIA’s data also revealed that total domestic stocks of gasoline grew by 6.7 million bbl last week, bringing the total to 258.3 million bbl.
Tampa, FL – AAA says that despite crude oil price fluctuation and growing geopolitical concerns with Iran in the last week, the national gas price average has held steady at $2.58 since the beginning of the year. Today’s national average is two cents more than last month and 34-cents more expensive than the beginning of 2019.
“A healthy and growing level of domestic gasoline stocks alongside decreasing demand are two factors helping to minimize gas price fluctuations,” said Jeanette Casselano, AAA spokesperson.
AAA reports Tension Between the United States, Iran Leads Crude Prices to Temporary Spike in Oil Prices
Tampa, FL – AAA says crude oil prices have spiked and dropped twice in the past six days. The first spike occurred last Friday following a U.S. drone strike in Baghdad, which killed Iran’s Major General Qassem Soleimani.
Prices spiked again on Tuesday when over a dozen missiles were launched by Iran at military bases in Iraq that house American soldiers in retaliation for the drone strike.
Tampa, FL – AAA says the national gas price average held steady on the week at $2.58, but that could change depending on the movement of crude oil prices due to geopolitical concerns.
Following airstrikes in Baghdad last Friday, which killed Iran’s Major General Qassem Soleimani, crude oil prices increased, causing market speculation about what could happen to gas prices in the near-term.
Tennessee sees 2 cent increase in Gas Prices
Tampa, FL – More than 100 million Americans are taking to the roadways to travel for the holidays, but that hasn’t had a large impact on gas prices. At the start of the work week, only about a dozen states are seeing more expensive gas prices with increases of less than a dime.
“AAA forecasts that 104 million Americans will travel by car – the most on record – for a year-end holiday,” said Jeanette Casselano, AAA spokesperson.
Tampa, FL – December is finally bringing cheaper gas prices to pumps across the country. Today’s average is $2.55, which is nearly a nickel cheaper than the beginning of the month.
Decreasing gasoline demand and increasing stocks are driving the change in pump prices. The latest Energy Information Administration (EIA) reports show gasoline demand at its lowest rate since mid-February and the highest stock levels since this summer.
Tampa, FL – At $2.57, AAA says the national gas price average is a penny cheaper on the week. The majority of states saw minimal movement at the pump in the last week, several saw decreases of up to four cents while fewer than a dozen states saw gas prices increase.
“Since the end of October, gasoline demand has mostly decreased as gasoline stocks have mostly increased, paving the way for cheaper gas prices,” said Jeanette Casselano, AAA spokesperson.
Nashville, TN – AAA says Tennessee Gas Prices are holding steady compared to a week ago. The average price for gasoline is the same as last week and last month, but is six cents more than one year ago.
The national gas price average is one penny cheaper than last Monday at $2.58. Today’s average is three cents cheaper than last month, but 12 cents more expensive than last year at this time.
Tampa, FL – AAA says for the 49 million Americans hitting the road for the Thanksgiving holiday, they will find gas prices mostly similar, if not cheaper, than last year’s holiday. Today’s national average is $2.59. That is just a few cents over the 2018 holiday weekend average of $2.57.
“During Thanksgiving week last year we saw the national gas price average decrease a nickel between Monday and Thursday, that could be the case again this year,” said Jeanette Casselano, AAA spokesperson.
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