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Topic: Indiana
AAA reports Gas Demand at All-Time High, Slowing Pump Price Decreases
August 24, 2019 | 
Tampa, 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.
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AAA reports Domestic Gasoline Stocks Soar, Push Down Gas Prices
Tampa, 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).
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AAA says National Gas Price Average Cheaper on the Week, Month and Year
Tampa, 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)
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AAA reports Gas Price Increases at the Pump Slowing Across the Country
Tampa, FL – On the week, AAA says all but eight states saw gas price averages push cheaper or remain stable. At $2.76, the national gas price average is three cents less expensive than last Monday. This is the first time in four weeks that the national average has seen a weekly decline.
“Gasoline stocks remain robust amid a recent dip in demand, which could be one reason we are seeing pump prices starting to roll back,” said Jeanette Casselano, AAA spokesperson.
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AAA says Gas Prices are rising this Summer
Tampa, FL – As summer temperatures rise, so are gas prices according to AAA. State averages have jumped, pushing up the national average nearly a dime to $2.75 in the last 15 days.
In addition to rising gasoline demand, 13 states this month have introduced new gas taxes that have contributed to the national average increase. Those states include California, Connecticut, Illinois, Indiana, Maryland, Michigan, Montana, Nebraska, Ohio, Rhode Island, South Carolina, Tennessee, and Vermont.
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AAA says Pump Prices are Dropping Fast with Summer approaching
Tampa, FL – AAA reports that since Memorial Day the national average dropped six cents on the week, following a consistent downward trend.
The decline is unusual for this time of year. Pump prices usually trickle higher during the summer months due to increased demand. However, the latest Energy Information Administration (EIA) report reveals that total domestic gasoline inventories jumped a million bbl last week, helping to push pump prices lower.
According to AAA, U.S. Gasoline Inventories continue to grow. (AAA)
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AAA says Gas Prices drop Seven Cents at the Pump
Tampa, FL – AAA says that today’s national average is $2.74, which is seven-cents cheaper than last week, 13-cents less than a month ago and 18 cents cheaper than a year ago. Nearly every state’s gas price average is cheaper than a week ago, a month ago and a year ago.
“Refinery utilization in the United States is at its highest level since early January, resulting in overall gasoline stocks at healthy levels to meet robust summer demand. Prices are dropping due to cheaper crude oil and at the same time U.S. supply is keeping pace with demand,” said Jeanette Casselano, AAA spokesperson.
Consumers see Summer Savings at the Gas Pump. (AAA)
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AAA reports Gas Prices continue to decline
Tampa, FL – AAA says that today’s national average is $2.81, which is two cents cheaper than last week, eight cents less than last month and 13 cents less than last year.
With the exception of the Rockies states, Alaska and Indiana, motorists across the country are saving as much as 23 cents/gallon to fill up as compared to last month.
AAA says Pump Prices Continue to Push Lower for Majority of Motorists. (AAA)
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AAA reports that since the beginning of May, National Gas Price Average Drops by over a Nickel
Tampa, FL – AAA says the vast majority of the 37.6 million Americans who hit the road this past Memorial Day weekend found savings at the pump compared to last year’s holiday. Today, 42 states and Washington, D.C. have gas price averages that are less expensive year-over-year, with Floridians (-31 cents) seeing the largest yearly change. Motorists in West Coast states are the exception, paying nearly double-digits more than last May to fill up.
National Gas Price Average cheaper than last May. (AAA)
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AAA reports Despite Year-Over-Year Gasoline Stock Level Deficit, Gas Prices Decline
Tampa, FL – According to AAA, Gas prices are nearly six cents cheaper in some states across the country on the week, which has pushed the national gas price average cheaper by a penny to $2.85 today.
That average could have been even lower had a handful of Midwest states not seen prices increase by more than a nickel due to ongoing refinery maintenance.
Gas prices continue to decline at the pump. (AAA)
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