The U.S. Department of Energy’s (DOE) Office of Petroleum Reserves announced May 21 a solicitation for the sale and liquidation of 1 million barrels (42 million gallons) of gasoline in the Northeast Gasoline Supply Reserve (NGSR). This solicitation is strategically timed and structured to maximize its impact on gasoline prices, helping to lower prices at the pump […]
Gasoline Prices at Highest Levels for Year
While down from the record high prices in early summer last year, gas prices are above year ago levels. AAA reports that the national average for a gallon of gas hit what may be 2023’s peak price of $3.88 earlier this week, only to slide a few cents in the following days. Yesterday’s average was […]
AAA Reports Gasoline Prices Increasing This Week
According to AAA, since Monday, the national average for a gallon of regular gasoline increased by a penny to $3.68. After declining for 98 consecutive days, the national average reversed course as fluctuating oil prices and tight supply due to planned and unplanned maintenance work at refineries on the West Coast and Midwest contribute to […]
Gas Prices Had Smallest Weekly Decline in Months as Demand Continues to Decline
AAA reported that fewer drivers fueling up helped the national average pump price for gasoline to drop four cents in the past week to reach $3.67. But it’s the smallest weekly decline in months and may signal that the streak of daily falling national average gas prices, approaching 100 days, is nearly finished. “All streaks […]
Gas Prices Continue to Decline
AAA reported that the national average for a gallon of regular gas fell 10 cents in the past week to $3.95 today, due primarily to stable oil prices and fewer drivers than usual fueling up. Today’s national average is 62 cents less than a month ago, but 77 cents more than a year ago. “Falling […]
Gasoline Falls Below $4 Per Gallon for First Time Since Early March
Demand increased last week as prices declined. AAA reported that since Monday, the national average for a gallon of regular gasoline dropped six cents to $3.99. The national average has not been below $4 per gallon since March 5. In the spring, oil prices spiked in reaction to Russia’s invasion of Ukraine, leading the national […]
Gas Prices Drop as Fuel Demand Declines Following July 4 Holiday
Gasoline delivered last week was below level in 2020 during height of pandemic declines. According to AAA, prices at the pump continued to decline as demand declined following the July 4 holiday. The national average price on July 21 was $4.440 per gallon, down from $4.467 the day before, $4.605 the previous week and from […]
Gasoline Price Increases Ease as Demand Declines Following Memorial Day Holiday
According to AAA, since Monday, the national average for a gallon of regular gasoline has decreased by a penny to $5.00. According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks fell by 700,000 bbl to 217.5 million bbl last week. Meanwhile, gasoline demand declined slightly from 9.2 million b/d to […]
Hankook Tire Research Confirms Gas Prices Impact Driving Habits
Majority of Americans report reducing driving. AAA reports record gas prices on increased demand as summer driving kicks off. As Americans continue to navigate an evolving economic environment and increased gas prices, new data from Hankook Tire’s Gauge Index reveals the impact on everyday driving. AAA research, however, shows the impact hasn’t really been felt […]
Gasoline Demand Remained Strong Over Holiday Weekend as Prices Continue to Set Records
According to AAA, the cost of a barrel of oil is nearing $120, nearly double from last August, as increased oil demand outpaces the tight global supply. Meanwhile, domestic gasoline demand rose last week in the wake of a robust Memorial Day weekend of travel. As a result, the national average for a gallon of […]
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