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Posts Tagged ‘AAA Gas Gauge’

Gas Prices Continue Dropping during Holiday Season

South Carolina cheapest for gas, while California most expensive.

by on Apr.08, 2015

Gas prices have dropped steadily during the last 30 days and are more than $1 cheaper than a year ago.

Even with the Easter and Passover holidays at hand, the national average price for regular unleaded gasoline continues to drop.

AAA reports gasoline prices have fallen for 24 of the past 30 days, after reaching a peak-to-date price for 2015 of $2.46 per gallon on March 7. The price at the pump continues to reflect seasonality as refineries complete scheduled maintenance and prepare for the summer driving season, according to the latest estimate by AAA.

Automotive Insight!

AAA calculated this week the national average price at the pump is $2.39 per gallon, which represents a savings of three cents versus one week ago and seven cents versus one month ago. Consumers continue to experience significant year-over-year savings in the price of retail gasoline and are saving $1.19 per gallon compared to this same date last year. (more…)

Gas Prices Drop Again After Brief Jump

Oil prices falling despite threats in Middle East.

by on Mar.16, 2015

After rising daily for more than a month, gas prices have dropped again.

After rising by 20 cents per gallon, gasoline prices have begun to drop again slightly, according to the AAA Gas Gauge.

A string of 40 consecutive daily price increases at stations across the country ended abruptly last month. It was the longest streak of rising prices in two years and due to the combination of rising crude oil costs, refinery maintenance and unplanned production problems in the Middle East where terrorism and warfare remain a threat.

Automotive Insight!

During this period, average gas prices increased by 43 cents per gallon, but have fallen by a half cent since Saturday. While today’s price of $2.45 per gallon is three cents more than one week ago and 28 cents more than one month ago, pump prices continue to reflect a substantial yearly discount. Compared to the same date last year motorists are saving an average of $1.04 per gallon. (more…)

Falling Gas Prices Putting Money in Consumers Pockets

Five-year lows threatening Texas jobs.

by on Dec.22, 2014

Gas prices continue to tumble, dropping 25 cents in the last two weeks to an average of $2.47 a gallon.

The influential Lundberg Letter estimated that the average price of a gallon of gasoline in the United States has dropped 25 cents in the past two weeks, tumbling to its lowest level in more than five-and-a-half years, according to the Lundberg survey released Sunday, while AAA said the drop in prices is expected to continue.

Prices for regular-grade gasoline fell to $2.47 a gallon in the survey dated Dec. 19, down 25 cents since the previous survey on Dec. 5, according to Lundberg, and the recent drop has taken prices down more than $1.25 a gallon since a peak in May.

A Real Performer!

“This is mostly driven by the big drop in crude oil prices and absent a sudden spike we very well may see a drop of a few pennies more,” said the survey’s publisher, Trilby Lundberg. “That said, demand is up at these low prices.” (more…)

OPEC Claims No Price Target Set for Oil

U.S. production expected to increase next year, keeping prices low.

by on Dec.15, 2014

Abdalla Salem el-Badri, OPEC's top leader, said the organization has not set a target price for oil.

Despite speculation that OPEC is manipulating oil prices, the organization has no set price target for oil and will let the market determine what it should cost, said Abdalla Salem el-Badri, head of the Organization of Petroleum Exporting Countries, according to the Wall Street Journal.

The price of gasoline has plunged, again, on the heels of fresh turmoil in the global energy markets, which has continued to unnerve trade and equity markets around the world.

Your Automotive Source!

The AAA Gas Gauge estimated Sunday that gasoline price across the United States have dropped another 12 cents in the past week and could drop another 17 cents by Christmas according to AAA. Gasoline prices fell, following another drop in the price of crude oil, which has dropped by 41% since the end of 2013. At the end of last week, crude oil was trading for $57.49 a barrel. (more…)