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AAA reports Icy Winter Temperatures causes Gas Price rise at the Pump

 

AAAWashington, D.C. – AAA says motorists are filling-up to some of the most expensive gas prices seen in over a year.

With the forced shutdown of Gulf Coast and some Mid-West refineries due to last week’s winter weather, gasoline stocks have tightened and gas prices have skyrocketed.

On the week, 66% of state averages spiked by double digits (10–22 cents), driving the national average up by 13 cents to $2.63. That is the most expensive national average since October 2019.

Winter Storm shutsdown refineries causing gas prices to spike. (AAA)

Winter Storm shuts down refineries causing gas prices to spike. (AAA)

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General Motors recalls nearly 700,000 vehicles because Passenger Frontal Air Bag Inflator May Explode

 

National Highway Traffic Safety Administration - NHTSAWashington, D.C. – The National Highway Traffic Safety Administration (NHTSA) reports General Motors, LLC is recalling certain 2013 Cadillac Escalade, Escalade ESV, and Escalade EXT, Chevrolet Avalanche, Silverado 1500, Silverado 2500/3500, Suburban, Tahoe, GMC Sierra 1500, Sierra 2500/3500, Yukon, and Yukon XL vehicles.

An inflator explosion may result in sharp metal fragments striking the driver or other occupants, resulting in serious injury or death.

2013 Cadillac Escalade is one of the vehicles being recalled.

2013 Cadillac Escalade is one of the vehicles being recalled.

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AAA reports Price of Crude, National Gas Average soon to Top 2020’s Highest

 

AAAWashington, D.C. – AAA says that Crude oil and pump prices will soon be more expensive than the highest price of 2020 despite low demand. At the end of last week, crude was priced at $59.47/bbl.

That’s just under $4.00/bbl less than last year’s most expensive price of $63.27/bbl (seen on January 6th, 2020). Since the end of November, we’ve seen the price of crude increase as much as $5.00/bbl a week, meaning we could see 2021 crude oil prices top 2020 as early as this week.

How High Will Gas Prices Go This Year? (AAA)

How High Will Gas Prices Go This Year? (AAA)

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General Motors recalls over 500,000 vehicles because Passenger Frontal Air Bag Inflator May Explode

 

National Highway Traffic Safety Administration - NHTSAWashington, D.C. – The National Highway Traffic Safety Administration (NHTSA) reports General Motors, LLC is recalling certain 2009 Cadillac Escalade, Escalade ESV, Escalade EXT, Chevrolet Avalanche, Silverado 1500, Silverado 2500, Silverado 3500, Suburban, Tahoe, GMC Sierra 1500, Sierra 2500, Sierra 3500, Yukon, and Yukon XL vehicles.

An inflator explosion may result in sharp metal fragments striking the driver or other occupants, resulting in serious injury or death.

Certain 2009 Chevrolet Silverado 1500 and GMC Sierra 1500 trucks are being recalled because the passenger frontal air bag inflator may explode.

Certain 2009 Chevrolet Silverado 1500 and GMC Sierra 1500 trucks are being recalled because the passenger frontal air bag inflator may explode.

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AAA reports Substantial Increase in Gasoline Demand Has Little Immediate Impact on Supply Levels or Pump Prices

 

AAAWashington, D.C. – According to the latest Energy Information Administration (EIA) measurement, gasoline demand jumped from 7.53 million b/d to 8.11 million b/d. Typically a significant increase in demand results in a comparable decrease in supply, ultimately translating to more expensive pump prices.

Surprisingly, the recent large jump in demand had little impact on gasoline supply and minimal impact on pump prices.

Gas prices at the pump remain steady despite an increase in demand. (AAA)

Gas prices at the pump remain steady dispite increase in demand. (AAA)

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How Labor Day Started

 

Labor DayWashington, D.C. – On the first Monday in September, Labor Day is observed. It is a creation of the labor movement and is dedicated to the social and economic achievements of American workers.

It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country.

Through the years the nation gave increasing emphasis to Labor Day. The first governmental recognition came through municipal ordinances passed during 1885 and 1886.

President Woodrow Wilson (Left) with American Federation of Labor founder and long-time president, Samuel Gompers (Center), and DOL Secretary William B Wilson at an undated Labor Day Rally.

President Woodrow Wilson (Left) with American Federation of Labor founder and long-time president, Samuel Gompers (Center), and DOL Secretary William B Wilson at an undated Labor Day Rally.

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AAA reports National Gas Average Holds Steady on the Week

 

AAATampa, FL – The national gas price average held steady on the week at $2.19 as 1/3 of states saw gas prices decrease and only 10 states saw gas prices increase by two to four cents.

State averages saw minimal fluctuation as demand roughly held steady over the last four weeks.

“During the last month, demand has averaged about 8.6 million b/d while, gasoline stocks have steadily declined,” said Jeanette Casselano, AAA spokesperson.

Gas Price Volatility is Low Across the Country. (AAA)

Gas Price Volatility is Low Across the Country. (AAA)

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National Gas Price Average increases by One Penny

 

AAATampa, FL – The national gas price average increased just one cent to $2.18 on the week despite a dip in United States demand for gasoline and gasoline stocks increasing by 1 million bbl.

The slight drop in demand – 47,000 b/d – amid the increase in stocks comes as many states report increases in COVID-19 Coronavirus cases, potentially causing Americans to reconsider outings.

Gas prices at the pump continue downward trend. (AAA)

Gas prices at the pump continue downward trend. (AAA)

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AAA reports Gas Demand Rises, Prices at Pump Climb

 

AAATampa, FL – Americans are filling up at the pump more and more. Since mid-May, gasoline demand has increased 18% to 7.9 million b/d, according to the latest Energy Information Administration (EIA) report.

The slow, but steady rise in demand has pushed the national pump price more expensive by 13% in the same time frame. Today’s national average is $2.10. That is seven cents more on the week, 24 cents more on the month, but 59 cents cheaper on the year.

Prices at the Gas Pump continue to climb with increased demand. (AAA)

Prices at the Gas Pump continue to climb with increased demand. (AAA)

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Subaru of America recalls over 120,000 certain 2003-2014 vehicles because Passenger Frontal Air Bag Inflator May Explode

 

National Highway Traffic Safety Administration - NHTSAWashington, D.C. – The National Highway Traffic Safety Administration (NHTSA) reports that Subaru of America, Inc. (Subaru) is recalling certain 2009-2013 Forester, 2003-2006 Baja, 2004-2011 Impreza, 2004-2014 WRX (including STI), 2003-2014 Legacy and Outback, and 2006 Saab 9-2X vehicles because the passenger frontal air bag inflator may explode.

An inflator explosion may result in sharp metal fragments striking the driver or other occupants resulting in serious injury or death.

2014 Subaru Legacy is one of the models being recalled by Subaru of America, Inc.

2014 Subaru Legacy is one of the models being recalled by Subaru of America, Inc.

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