{"id":18032,"date":"2021-10-02T20:51:36","date_gmt":"2021-10-03T01:51:36","guid":{"rendered":"http:\/\/www.paristn.net\/articles\/?p=18032"},"modified":"2021-10-02T18:40:01","modified_gmt":"2021-10-02T23:40:01","slug":"aaa-reports-national-gas-price-average-drops-one-cent","status":"publish","type":"post","link":"https:\/\/www.paristn.net\/articles\/2021\/10\/02\/aaa-reports-national-gas-price-average-drops-one-cent\/","title":{"rendered":"AAA reports National Gas Price Average drops One Cent"},"content":{"rendered":"

\"AAA\"Washington, D.C.<\/strong> – Fall is here, but instead of taking a seasonal dip, gas prices still reflect summertime levels when demand was higher.<\/p>\n

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.<\/p>\n

\"Higher<\/a>

Higher Oil Prices Keeping the Pressure on at the Pump. (AAA)<\/p><\/div>\n

\u201cConsumers should see the usual autumn relief at the pump,\u201d said Andrew Gross, AAA spokesperson. \u201cBut factor in that approximately 16% of crude production in the Gulf of Mexico is still shut down because of Hurricanes Ida and Nicholas and the concerns about what higher COVID cases could do to the economy, and this uncertainty is helping to keep oil prices elevated.\u201d<\/p>\n

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks increased by 3.5 million bbl to 221.6 million bbl last week. Gasoline demand is low at 8.90 million b\/d, helping to offset some of the upward pressure caused by higher crude oil prices.<\/p>\n

With the hurricane recovery and restoration process continuing, pump prices may stabilize. Most Louisiana refineries are running again, as witnessed by storage levels growing by 1.5 million bbl. However, high crude prices (above $72 per barrel) will contribute to gasoline prices likely remaining elevated this fall.<\/p>\n

Today\u2019s national average of $3.18 is four cents more than a month ago and is 99 cents more than a year ago.<\/p>\n

Quick Stats<\/h3>\n

The nation\u2019s top 10 largest weekly changes<\/strong>: Michigan (+8 cents), Ohio (\u22128 cents), Indiana (\u22126 cents), Illinois (\u22125 cents), Kentucky (\u22125 cents), Nevada (\u22124 cents), Delaware (+3 cents), Florida (\u22123 cents), Maryland (+2 cents) and Utah (\u22122 cents).<\/p>\n

The nation\u2019s top 10 least expensive markets<\/strong>: Mississippi ($2.81), Texas ($2.82), Arkansas ($2.83), Missouri ($2.84), Oklahoma ($2.85), Alabama ($2.86), Tennessee ($2.89), Louisiana ($2.89), South Carolina ($2.89) and Kansas ($2.90). <\/strong><\/p>\n

At the close of Thursday\u2019s formal trading session, WTI increased by 68 cents to settle at $73.98. Crude prices increased on the week following the release of EIA\u2019s recent report showing that total domestic crude inventories decreased by 3.4 million bbl to 414 million bbl.<\/p>\n

Additionally, crude prices rose after the Federal Reserve signaled it could raise interest rates in 2022 and end its bond-purchase program that has supported the economy since the start of the COVID-19 pandemic. For this week, crude prices could continue their ascent if EIA\u2019s next report shows another weekly decline.<\/p>\n

[470center]<\/p>\n

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com\/mobile<\/a>.<\/p>\n

About AAA – The Auto Club Group<\/h3>\n

The Auto Club Group (ACG) is the second-largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec, and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking, and financial services, travel offerings, and more.<\/p>\n

ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA\u2019s mission is to protect and advance freedom of mobility and improve traffic safety.<\/p>\n

For more information, get the AAA Mobile app<\/a>, visit AAA.com<\/a>, and follow us on Facebook, Twitter, and LinkedIn.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[17],"tags":[1361,2795,2796,7701,10654,9969,9800,107,5120,2845,6620,3683,1638,1639,4050,1641,2799,1642,2800,2801,1644,1838,1646,9284,2848,2803,261,1840,7063,11406,9460],"class_list":["post-18032","post","type-post","status-publish","format-standard","hentry","category-community","tag-aaa","tag-alabama","tag-arkansas","tag-crude-oil","tag-delaware","tag-eia","tag-energy-information-administration","tag-featured","tag-federal-reserve","tag-florida","tag-gas-prices","tag-hurricanes","tag-illinois","tag-indiana","tag-kansas","tag-kentucky","tag-louisiana","tag-maryland","tag-michigan","tag-mississippi","tag-missouri","tag-nevada","tag-ohio","tag-oil-prices","tag-oklahoma","tag-south-carolina","tag-tennessee","tag-texas","tag-utah","tag-washignton-d-c","tag-wti"],"_links":{"self":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/18032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/comments?post=18032"}],"version-history":[{"count":1,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/18032\/revisions"}],"predecessor-version":[{"id":18034,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/18032\/revisions\/18034"}],"wp:attachment":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/media?parent=18032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/categories?post=18032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/tags?post=18032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}