Gasoline Demand Hits Lowest Level in Nearly Two Years Pushing Pump Prices Even Cheaper
January 8, 2019
AAA
Tampa, FL – The latest Energy Information Administration (EIA) data registers gasoline demand at 8.6 million b/d for the week ending December 28th – the lowest level on record since February 2017.
Despite record motor vehicle travel for the holiday, demand was down nearly 900,000 bbl, suggesting that demand this winter could be lower than expected.
Prices at the Gas Pump continue to drop. (AAA)
2019 Rings in Cheapest New Year Gas Prices Since 2016
January 6, 2019
AAA
Tampa, FL – The New Year has ushered in the cheapest national gas price average in three years. To boot, at $2.25 today’s national average is even one cent cheaper than on January 1st, 2019 and trends indicate that pump prices will likely remain cheap for at least the first half of the month.
Today, 29 state gas price averages are at or below the national average of $2.25 with Missouri touting the cheapest at $1.83. Hawaii ($3.34) carries the most expensive average.
AAA expects prices to remain the same despite OPEC production cuts. (AAA)
Cheapest December National Gas Price Average in Two Years
December 20, 2018
AAA
Tampa, FL – At $2.37, the national gas price average continues to drive toward the cheapest pump prices seen during the month of December since 2016, which is welcome news for the millions of Americans expected to begin holiday travel later this week.
“AAA expects 102 million Americans to drive to their holiday destination this year, which is a four percent increase year-over-year,” said Jeanette Casselano, AAA spokesperson. “No doubt cheaper gas prices are fueling their decision to hit the road.”
In Tennessee, Gas Prices at the pump have fallen 0.5 cents in the past week. (AAA)
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)
AAA says National Gas Price Average is Cheaper for First Time in 18 Months than One Year Ago
December 6, 2018
AAA
Tampa, FL – On the week, motorists in 32 states are paying less to fill up compared to a year ago. As the national gas price average drops to $2.46 it sets a new low price for the year and is cheaper than a year ago by two cents.
The last time the daily national gas price average was cheaper year-over-year was 18 months ago on July 6th, 2017 when gas prices were $2.24 (versus $2.26 on July 6th, 2016).
Prices at the Pump continue to fall across the United States. (AAA)
AAA reports National Gas Price Average Dropping Toward Lowest of the Year
November 28, 2018
AAA
Tampa, FL – On the week, the national gas price average has dropped seven cents to land at $2.56. As pump prices steadily decline, they are headed toward some of the cheapest gas prices in 2018. The national average was lowest in January at $2.49 while May brought the most expensive price of $2.97.
“Trends are indicating that the month of December may bring some of the cheapest gas prices of the year,” said Jeanette Casselano, AAA spokesperson.
AAA reports National Gas Price Average Declines after Nearly Two Weeks of Increases
October 18, 2018
AAA
Tampa, FL – At $2.89, the national gas price average is two-cents cheaper than it was a week ago amid consumer gasoline demand declining for a third week. Today’s gas price average is four-cents more than a month ago and 42-cents more expensive than a year ago.
The majority of states have seen gas prices decrease on the week with the exception of a handful of states, some of which were impacted by fuel disruptions on the west coast and in the southeast.
AAA Forecasts Fall National Gas Price Average to be a Quarter a Gallon Cheaper than During Summer
September 9, 2018
AAA
Washington, D.C. – AAA forecasts that the national gas price average will drop to $2.70 this fall and has the potential to drop even more. That is 14-cents less a gallon compared to today’s price and more than a quarter cheaper than this year’s recorded high of $2.97 set in May.
“Cheaper-to-produce gasoline and relatively stable crude oil prices in August, combined with an anticipated drop in consumer gasoline demand post-Labor Day, means consumers will see savings when they fill-up at the pump this fall,” said Jeanette Casselano, AAA spokesperson.
National Gas Price Average Holds Steady for Labor Day
September 2, 2018
The Auto Club Group (AAA)
Tampa, FL – Motorists across the country continue to see their local pump prices dropping. On the week, state gas price averages declined as much as four cents while the national gas price average held steady at $2.84, which is two-cents cheaper than a month ago, but 48-cents more than a year ago.
“With Labor Day approaching, motorists could see a small swing towards higher gas prices, but any jump should not last past the holiday weekend,” said Jeanette Casselano, AAA spokesperson.
August’s National Gas Price Average Remains Flat
August 14, 2018
AAA
Tampa, FL – The national gas price average has held relatively flat for the last two weeks. Today’s national average is $2.86. The Energy Information Administration’s (EIA) latest reports detail a drop in consumer gasoline demand and a build in gasoline inventories.
In fact, this was the first increase in inventories in six-weeks with a substantial addition of 3 million bbl.
Gas prices holding steady according to AAA. (AAA)
