AAA says Going Against Usual Trends, Demand Drives Gas Prices Down Even Lower
July 7, 2019
Tampa, FL – For the week ending June 14th, 2019, U.S. gasoline demand hit its highest level at 9.93 million b/d. It is the highest level ever recorded since the Energy Information Administration (EIA) began publishing data in 1991.
Counterintuitively, as motorists drive demand to new heights, pump prices pushed even cheaper across the country on the week. This is due to the recent trend in cheaper crude pricing and because crude comprises roughly 60% of the costs people pay at the pump, drivers are seeing summer savings.
Gas Prices continue to fall at the Pump despite rising demand. (AAA)
