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Topic: Gas Prices

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 Gas Price Trends Falling into Place for Autumn

 

AAATampa, FL – AAA says gas prices continue to trend – slowly, but surely – cheaper with half of all states seeing pump prices drop two-cents on the week. This caused the national average to push cheaper by a penny down to $2.56. Today’s average is 11-cents less than a month ago and 28-cents cheaper than a year ago.

In its latest weekly report, the Energy Information Administration (EIA) notes that U.S. gasoline demand saw a steady decline from 9.9 million b/d to 9.4 million b/d, a reading typical for the start of fall.

Gas prices to get cheaper this Autumn. (AAA)

Gas prices to get cheaper this Autumn. (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 Cheap Crude Oil Paves Way for Significant Savings at the Pump

 

AAAWashington, D.C. – AAA says when filling-up at the pump this fall, the majority of U.S. motorists will find savings of potentially more than 25-cents/gallon compared to this summer.

The national gas price average, which is already 15-cents cheaper than just five weeks ago, is poised to continue pushing less expensive due to several factors, including less expensive crude oil prices, the drop-off in gasoline demand after Labor Day and the move to winter-blend gasoline.

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 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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AAA says National Gas Price Average Cheaper on the Week, Month and Year

 

AAATampa, FL – AAA reports that the average national gas price dropped by two cents to $2.71 on the week. This is less expensive than a week, a month (-4 cent) and a year (-15 cents) ago. Prices are cheaper as demand saw a small dip on the week, even though overall demand remains robust for the summer.

“While gas prices continue to drop, the rate at which they are decreasing has slowed,” said Jeanette Casselano, AAA spokesperson.

Tennessee is one of the nation’s top 10 least expensive gas markets. (AAA)

Tennessee is one of the nation’s top 10 least expensive gas markets. (AAA)

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