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Topic: Energy Information Administration

AAA says Majority of United States Pays Less to Fill-Up, California’s Gas Prices Spike

 

AAATampa, FL – AAA reports that the national gas price average continues to hold steady on the week at $2.65, which is nine cents more expensive than last month, but 26 cents cheaper than a year ago.

Most motorists around the country are seeing prices decline or stabilize, with the majority of states seeing gas prices decrease by as much as a nickel since last Monday.

Gas prices decline at the pump for most of the country. (AAA)

Gas prices decline at the pump for most of the country. (AAA)

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AAA reports Gas Prices Trending Cheaper

 

AAATampa, FL – AAA says that two weeks after attacks on major Saudi Arabian oil facilities, the majority of Americans are starting to see signs of gas prices trending cheaper. While the national average may have only decreased by a penny on the week, 10 states saw pump prices decline by a nickel or more.

“Crude oil prices have dropped close to where they were right before the drone attacks on the Saudi oil facilities,” said Jeanette Casselano, AAA spokesperson.

Prices at the Gas Pump begin to fall. (AAA)

Prices at the Gas Pump begin to fall. (AAA)

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AAA reports National Gas Price Average Jumps by a Dime in One Week

 

AAATampa, FL – AAA says that last week was the first time since early June that the national gas price average jumped more than a nickel in under a few days. On the week, it’s a dime more expensive at $2.66 with half of states seeing prices increase by 10 cents or more.

However, even with the significant increase, the national average is still cheaper compared to last month (-6 cents) and last year (-19 cents).

Gas prices holding steady according to AAA. (AAA)

Gas prices holding steady according to AAA. (AAA)

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AAA reports Crude Oil Prices Spike Following Attacks on Saudi Arabian Oil Facilities

 

AAATampa, FL – On the week, the national gas price average held steady at $2.56, but motorists can expect some volatility at the pump in the coming days and weeks.

Over the weekend, Saudi Arabia experienced drone attacks on two major oil facilities – including the world’s largest, Abqaiq. The attacks have taken 5.7 million (crude) barrels per day off the market, accounting for about 6% of the global supply.

Americans Can Expect Pump Price Jumps Coming to Stations as Soon as this Week. (AAA)

Americans Can Expect Pump Price Jumps Coming to Stations as Soon as this Week. (AAA)

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AAA reports Gas Demand Rebounds and National Average Sees Slight Increase

 

AAATampa, FL – AAA says in its latest petroleum status report, the Energy Information Administration (EIA) revealed that gas demand increased by 336,000 b/d to 9.8 million b/d.

This latest rate is 158,000 b/d higher than the first week of September 2018, which is surprising as demand generally slows post-Labor Day.

Domestic Gasoline Stocks fell this past week. (AAA)

Domestic Gasoline Stocks fell this past week. (AAA)

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

 

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)

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AAA says Most Consumers Continue to See Decreases at Gas Pump

 

AAATampa, FL – On the week, AAA says gas prices are as much as nine cents cheaper in every state except California, (+5 cents), Florida (+4 cents), Ohio (+2 cents) and South Carolina (+1 cent).

Hurricane Dorian has been the driver for the increases in Florida and, most likely, South Carolina.

Hurricane Dorian Puts Pressure on Florida Gas Prices. (AAA)

Hurricane Dorian Puts Pressure on Florida Gas Prices. (AAA)

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AAA says National Gas Price Average for Labor Day on Track to Be Cheapest in Three Years

 

AAATampa, FL – At $2.59, AAA says the national gas price average is poised to be potentially the cheapest Labor Day weekend average in three years. Today’s average is already nearly a quarter cheaper than during last year’s holiday ($2.83) and four cents cheaper than 2017’s Labor Day ($2.63).

“For Americans who bookend summer with road trips, they will find gas prices this coming weekend that are cheaper than this past Memorial Day and last year’s Labor Day holiday,” said Jeanette Casselano, AAA spokesperson.

2016-2019 National Gas Price Comparison -August 26th, 2019 «Read the rest of this article»

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AAA reports Gas Demand at All-Time High, Slowing Pump Price Decreases

 

AAATampa, FL – AAA says summer may be ending, but gasoline demand is soaring to new heights. In its latest reading, the Energy Information Administration (EIA) recorded demand at 9.93 million b/d, the highest since the agency began recording data in 1991.

As demand jumped, gasoline stocks fell by 1.4 million bbl and pump prices slowed their decline on the week.

2016-2019 National Gas Price Comparison -August 19th, 2019 «Read the rest of this article»

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AAA reports Domestic Gasoline Stocks Soar, Push Down Gas Prices

 

AAATampa, FL – AAA says the national gas price average, $2.64, represents a seven-cent drop on the week as domestic gasoline stocks built by a surprising 4.4 million bbl, according to the Energy Information Administration’s (EIA) latest data.

Contributing to the build was at least 1.2 million b/d of imports at U.S. ports. With the large bump, stocks now sit 235 million bbl – a U.S. stock level not seen in nearly five months (end of March).

10 Least Expensive Average Gas Prices - August 12th, 2019 «Read the rest of this article»

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