Gasoline demand was up 3.7% last week compared to the previous week. Since Monday, the national average for a gallon of regular gasoline reported by AAA has increased by 11 cents to $4.59 a new record. According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 4.8 million barrels […]
AAA Reports Gasoline Prices Above $4 per Gallon in Nearly Every State
Gas is 40 cents higher than a month ago, almost $1.50 higher than last year. With the national average cost for regular gas steadily climbing, three states—Georgia, Kansas, and Oklahoma—are still holdouts for crossing the $4 per gallon mark. The national average for a gallon of gasoline is now $4.48. The increase is primarily due […]
AAA Reports Average Gasoline Prices Down
While prices are lower, the U.S. average remains above $4 per gallon. Gasoline demand up slightly. According to AAA, the cost of gasoline has continued to slide due to falling oil prices. The global oil market has seen lower prices since the U.S. and its allies agreed to significant releases of oil reserves. Also weighing […]
AAA Says Plan to Tap Strategic Petroleum Reserve Takes Pressure Off Gasoline Prices
President Biden’s announcement to release one million barrels of oil per day for six months (180 million barrels) from the Strategic Petroleum Reserve (SPR) helped send the global oil price tumbling to near $100 bbl. The release is intended to stem rising energy prices. The national average for a gallon of gas has fallen to […]
Gas Prices Stabilize After Declining Last Week
AAA reported today that as the cost of a barrel of oil has remained near $110, the gas price decline has slowed. After hitting $4.33 on March 11, the national average for a gallon of gasoline is now $4.24, but only down a penny since last week. Domestically, gasoline demand is again defying seasonal trends […]
California Governor Proposes $11 Billion Relief Package for Californians Facing Higher Gas Prices
California Governor Gavin Newsom unveiled the details of his proposal to deliver $11 billion in relief to Californians facing record-high gas prices. The Governor’s proposal calls for $9 billion in tax refunds to Californians in the form of $400 direct payments per vehicle, capped at two vehicles. This package also provides $2 billion in broader […]
AAA Reports Gas Prices Sink Slowly But Cautions They Could Rebound
After hitting a record $4.33 on March 11, the national average for a gallon of gasoline has fallen to $4.25. The primary reason is the lower global price of crude oil, which peaked shortly after Russia launched its war in Ukraine, but is now more than $20 lower and hovering near $105/bbl. Domestically, gasoline demand […]
INRIX Reports U.S. Travel Declines Slightly as Gas Prices Increase
Midwest and Southern region trips declined while Western and Northeast increased last week. According to INRIX, while gasoline prices have increased dramatically over the past month, the price increases have had a negligible effect on driving, as employees return to offices and COVID-19 restrictions eased across the country. “Despite the increase in trip demand over […]
AAA Reports Russia-Ukraine Conflict Continues to Cause Pain at the Pump as Gas Prices Up 45 Cents on Week
As the conflict between Russia and Ukraine continues, crude prices soar, leading to higher pump prices in the U.S. According to AAA, the national average for a gallon of gas is $4.06, 45 cents more than a week ago, 62 cents more than a month ago and $1.30 more than a year ago. The national […]
31 Countries to Make 60 Million Barrels of Oil from Strategic Reserves Available Following Russia’s Invasion of Ukraine
The 31 Member Countries of the Governing Board of the International Energy Agency agreed to release 60 million barrels of oil from their emergency reserves to send a unified and strong message to global oil markets that there will be no shortfall in supplies as a result of Russia’s invasion of Ukraine. The U.S. is […]