Gas Prices continue Slow Decline
December 13, 2021
Washington, D.C. – AAA reports pump prices continue their slow seasonal descent, despite a slight rebound in oil prices due to waning fears of a global slowdown caused by the COVID-19 omicron variant.
The national average for a gallon of gas fell two cents on the week to $3.33.
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 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)
AAA reports National Gas Price Average Drops Some as Crude Oil Prices undergo Dramatic Fluctuation
July 30, 2021
Washington, D.C. – Motorists saw some positive change at the pump on the week with 31 state gas price averages declining one to five cents. The national gas price average pushed two cents cheaper to $3.15. One factor contributing to the decline was U.S. gasoline demand remaining relatively flat on the week.
At this point, it is too early to say if cheaper pump prices will be sustained or continue their downward trend. Part of the unknown is due to fluctuating crude prices, which dropped to a low of $66.00/bbl last Monday, but were back over $70.00/bbl by the end of the week.
Gas prices at the pump dip this week. (AAA)
National Gas Average increased 13 Cents since Memorial Day Holiday
July 22, 2021
Washington, D.C. – Since Memorial Day weekend, the national gas price average has increased 13 cents to $3.17. That is 98 cents more than a year ago, but 41 cents cheaper than this time in July 2014, when the national average was last above $3.00/gallon.
One of the primary reasons for more expensive gas prices this summer is high crude oil prices. However, last week crude prices fluctuated from a high of $75,00/bbl down to $71,00/bbl.
It is a Cruel Summer at the Gas Pump. (AAA)
United States Gas Demand Soars
July 15, 2021
Washington, D.C. – At 10 million b/d, gasoline demand reached a new Energy Information Administration (EIA) record last week, and that number only partially reflects Independence Day holiday weekend travel.
The nearly 1 million b/d jump in demand drove down gasoline supplies by 6.1 million bbl to 235,000 million bbl and consequently pushed the national average pump price up to $3.14.
Gas Demand Soars to Record High in the United States. (AAA)
AAA says Crude Oil Prices to Hit 7-Year High this Week with National Gas Price Average to Increase to $3.25 this Month
July 8, 2021
Washington, D.C. – The national gas price average has increased 40% since the start of the year, from $2.25 on January 1 to $3.13 today. Moreover, it is not stopping there. Motorists can expect gas prices to increase another 10–20 cents through the end of August, bringing the national average well over $3.25 this summer.
“Robust gasoline demand and more expensive crude oil prices are pushing gas prices higher,” said Jeanette McGee, AAA spokesperson.
Winter Storm shuts down refineries causing gas prices to spike. (AAA)
AAA says expect High Gas Prices for Independence Day Holiday Weekend
June 28, 2021
Washington, D.C. – At $3.09, the national gas price average is at its highest of the year and not stopping. That average will increase, possibly as much as another nickel, in the lead up to Independence Day as AAA forecasts a record-breaking 43.6 million Americans will hit the road for a holiday getaway.
This year’s Independence Day holiday weekend is defined as Thursday, July 1st – Monday, July 5th, 2021.
No Freedom from High Gas Prices during Independence Day Holiday. (AAA)
AAA reports Crude Oil climbs to Highest Price in 3 Years
June 14, 2021
Washington, D.C. – At $70.00/bbl, crude oil has increased to its highest price since October 2018 and is now $23/bbl more expensive than it was this past January.
Crude prices have steadily climbed this year along with optimism for the COVID-19 Coronavirus vaccine and the promising impact it will have on global gasoline demand.
Gas Prices Climb on the Week. (AAA)
AAA says Pump Prices Fluctuate as Demand Declines, Crude Oil Prices Climb
June 9, 2021
Washington, D.C. – After ten days of stability, the national gas price average increased a penny over the weekend to $3.05. On the week, the majority of states’ (26) gas price averages either increased by one cent or saw no movement.
Only two states saw prices increase a nickel or more. Prices are poised to fluctuate in the coming week, especially in light of a recent drop in demand.
National Gas Price Average goes up One Cent. (AAA)
