Rising Crude Oil Prices means Higher Prices at the Gas Pump
October 11, 2021
Washington, D.C. – The national average price for a gallon of gas rose 8 cents on the week to reach $3.27. This is the highest price since October 2014 and is primarily due to the surging price of crude oil, which crept above $80.00 bbl before edging slightly lower.
“The key driver for this recent rise in the price of gas is crude oil, which typically accounts for between 50% and 60% of the price at the pump,” said AAA Spokesperson Andrew Gross.
Surging price of Crude Oil results in highest National Average Gas Prices in Seven Years. (AAA)
AAA reports National Gas Price Average drops One Cent
October 2, 2021
Washington, D.C. – Fall is here, but instead of taking a seasonal dip, gas prices still reflect summertime levels when demand was higher.
The national average dropped a penny on the week to $3.18 after matching a seven-year-high in the prior week. The big culprit in keeping pump prices high is the price of crude oil, which is above $73.00 bbl.
Higher Oil Prices Keeping the Pressure on at the Pump. (AAA)
AAA reports National Gas Price Average Stabilizes
September 21, 2021
Washington, D.C. – The national gas price average rose two cents on the week to $3.19, matching a seven-year-high last seen in early August.
While the post-Labor Day period usually sees less demand and lower gas prices, this year, the impact of Hurricane Ida, followed two weeks later by Hurricane Nicholas, has slowed oil production and refinery recovery along the Gulf Coast.
While Gas Prices remained steady on the week, Oil Prices are on the Rise. (AAA)
AAA reports National Gas Price Average Jumps to Highest Price of the Year
August 11, 2021
Washington, D.C. – Crude oil prices dropped below $70.00/bbl at the end of last week in reaction to concerns about the delta variant, growing COVID-19 Coronavirus case numbers, and the possibility of potential lockdowns. While crude is a little cheaper, gas prices are still positioned to remain high in August.
Today’s national average is $3.19. That is the most expensive gas price average of the year as well as $1.02 more than a year ago, a nickel more than a month ago, and two cents more than a week ago.
Crude Prices Fluctuate, but Remain High Amid Growing Global COVID Concerns. (AAA)
AAA reports Gas Prices have risen 15 cents since May
August 4, 2021
Washington, D.C. – Americans are paying a pretty penny to hit the road this summer. The monthly national gas price average has increased from $3.00 in May to $3.07 in June to $3.15 in July. The beginning of August will likely be as expensive as July, especially as crude oil prices remain over $70.00 per barrel.
An increase in global crude production is expected this month. However, even with the additional supply, global demand could outpace global supply and keep prices high.
Winter Storm shuts down refineries causing gas prices to spike. (AAA)
Tennessee Wildlife Resources Agency releases statement regarding Bird Disease Calls
July 23, 2021
Nashville, TN – Reports of dead birds have been increasing in Tennessee due to the recent news coverage of a disease affecting birds in several eastern and midwestern states. The disease is reportedly causing eye swelling and crusty discharge from the eyes of birds and may also be associated with neurological symptoms.
A significant number of reports have come from Delaware, New Jersey, Pennsylvania, Ohio, and Indiana. Most birds reported exhibiting this condition are young and have included common grackles, European starlings, blue jays, and American robins along with other species of songbirds.
Tennessee Wildlife Resources Agency addresses Bird Disease Concerns.
AAA says National Gas Price Average to climb this week due to Colonial Pipeline shutdown
May 12, 2021
Washington, D.C. – On the week, the national gas price average jumped six cents to $2.96. If the trend continues, an increase of three more cents would make the national average the most expensive since November 2014 –the last time we saw average prices at $2.99 and higher.
AAA forecasts gas prices to climb this week in reaction to the shutdown of the Colonial Pipeline, which delivers approximately 45% of all fuel to the East Coast.
Gas Prices Jump Six Cents on Week, Likely to Climb Higher with Major Pipeline Shutdown. (AAA)
National Gas Price Average rises Two Cents
April 30, 2021
Tennessee has some of the Cheapest Gas Prices in the Country
Washington, D.C. – At 9.1 million b/d, United States gasoline demand recorded its second-highest measurement since mid-March 2020, indicating that motorists are filling up more often.
This latest demand reading is the highest spring number released by the Energy Information Administration (EIA) in two years. In fact, it is only about 3% below the same week in 2019.
U.S. Demand Readings Looking More Like Spring. (AAA)
AAA says Gasoline Demand Declines for Fourth Straight Week
December 16, 2020
Washington, D.C. – AAA reports that since the beginning of November, U.S. gasoline demand has softened.
The Energy Information Administration’s (EIA) data shows demand measured at 8.7 million b/d for the week ending November 6th. In their latest report, for the week ending December 4th, demand measured at 7.6 million b/d. That is the lowest reading since the end of May and marks four weeks of straight decline.
Gas Demand continues decline. (AAA)
AAA reports Gas Demand Weakens as Motorist Continue to See Cheaper Pump Prices
November 14, 2020
Tampa, FL – The national gas price average pushed a penny cheaper on the week to $2.11 following an increase in gasoline stocks and a dip in demand. Stocks added 1.5 million bbl to total 227.6 million bbl, in the Energy Information Administration’s latest report, while demand decreased to 8.3 million b/d.
“As some states increase travel restrictions and others roll back reopening processes, demand is positioned to weaken, though not likely drop as low as we saw in March and April,” said Jeanette Casselano McGee, AAA spokesperson. “That translates to a continuation of cheaper gas prices at the pump.”
National Gas Price Average drops one cent. (AAA)
