Detroit Bureau on Twitter

Posts Tagged ‘EIA’

Gas Prices Rising Due to Increase in Demand

Trump blames rise on OPEC.

by on Apr.24, 2018

Gas prices continue to rise as demand increase in the U.S.

Rising demand is helping push up the price of gasoline by an average of 5 cents per gallon across the U.S.

The federal Energy Information Administration’s latest data indicates consumer gasoline demand is at 9.857 million barrels per day, which is at the highest level ever on record for the month of April and exceeds typical summer demand measurements, driving up prices at the pump all across the U.S, according to analysts at AAA.

Subscribe Now!

As demand jumped, gas prices increased across the country on the week with five states seeing double-digit increases and the national average ticked up a nickel to $2.76, AAA reported. Overall prices are at the highest level in three years. (more…)

Summer Travel Likely to Rise as Gas Prices Fall

Pump price expected to drop as oil stabilizes.

by on Jun.05, 2015

Gas prices are their high-water mark for 2015, but are expected to fall as crude oil prices stabilize.

The national average price of gasoline is $2.75 per gallon, which is the highest average of the year, according to the latest survey by AAA.

However, there is a good chance that average U.S. gas prices will drop soon due to stabilizing crude oil costs and as refineries complete seasonal maintenance, which would result in the cheapest summertime gas prices since 2009, the company suggested.

Your Reliable Source!

At the same time, the average fuel economy of new vehicles sold in the U.S. continues to improve, according to a new survey from the University of Michigan. (more…)

Gas Prices Falling Despite International Conflicts

by on Aug.12, 2014

Gas prices are predicted to drop through the fall.

Ongoing strife in Iraq and Ukraine should be a recipe for a gas price hike in the U.S.; however, the national average retail price for a gallon of regular unleaded continues to fall: a trend that is expected to continue.

The U.S. Energy Information Administration, also known as the EIA, predicts further drops at the pump throughout the third quarter of this year as lower refinery margins offset higher crude oil prices. The agency expects regular gasoline retail prices to average $3.54 per gallon in 2014 and $3.45 per gallon gal in 2015, compared with $3.51 per gallon in 2013.

Stay in the Race!

AAA and GasBuddy.com reported this week a national average price of $3.47 for a gallon of regular unleaded, down 2 cents from this time last week and 15 cents from one month ago. The national average price for this date last year was $3.55 per gallon, according GasBuddy. (more…)