AAA says Growing Global Crude Supply Outpaces Demand, Driving December Pump Prices to Cheapest of the Year
December 9, 2018
AAA
Washington, D.C. – At $2.44 the national gas price average has set a new record low for 2018. This is nearly a nickel less than this time last December. AAA expects the national gas price average to fluctuate through the end of the month and possibly end the year as cheap as $2.40.
Globally, crude supply is growing faster than anticipated. Contributing to the surplus is the United States’ record-breaking production levels – which hit the highest level ever recorded by the Energy Information Administration at 11.7 million b/d last month.
Gas prices holding steady according to AAA. (AAA)
