Dip occurs as spring break travel heats up. Despite increased demand, gas prices dipped lower this week, with yesterday’s national average at $3.07 per gallon, about 3 cents lower than a week ago, according to AAA. This drop at the pump comes as many travelers gear up to hit the road for spring break and […]
AAA Reports Gas Prices Down as Demand Declines and Recession Fears Weigh Down Oil Market Expectations
According to AAA, fears of a global economic recession led to a major drop in the price of crude, down $7, which helped to minimize pump price increases last week. Meanwhile, domestic gasoline demand decreased as fewer drivers fueled up in the first half of October. According to the Energy Information Administration (EIA), gas demand […]
AAA Research Shows Drivers Change Habits to Counter High Gas Prices
New survey finds Americans are driving less as gas prices remain high. New survey data from AAA finds that drivers are making significant changes to cope with record pump prices. Almost two-thirds (64%) of U.S. adults have changed their driving habits or lifestyle since March, with 23% making “major changes.” Drivers’ top three changes to […]
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 […]
Gas Prices Decline Even with Increase in Demand Over July 4 Holiday
AAA reports that pump prices continued to decline, falling another 12 cents since last week to $4.67. The dip in the national average for a gallon of gas occurred despite a slight rise in demand, likely due to robust July 4th holiday automobile travel. AAA forecasted that 42 million people would hit the roads for […]
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 […]
Increased Demand for Gasoline Pushes Prices to Record Levels
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 […]
Four-Week Moving Average U.S. Gasoline Consumption Down Nearly 11% Compared to Last Year on Week Ending October 30
The four-week moving average has declined four straight weeks to its lowest level compared to last year since before July 4 holiday. The latest data from the U.S. Energy Information Administration (EIA) showed that gasoline consumption for the week ending October 30 was down versus the previous week and the four-week moving average dropped below […]
U.S. Gasoline Consumption Increased for Fourth Week in a Row on Week Ending October 2
Four-week moving average at best level compared to last year since state shutdowns began in March. The latest data from the U.S. Energy Information Administration (EIA) showed that gasoline consumption for the week ending October 2 was up versus the previous week and the four-week moving average dropped under the 9-10% range below last year’s […]
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