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Posts Tagged ‘gas price reversal’

Gas Prices Falling as Summer Driving Season Ends

Look for slide to continue as demand drops.

by on Sep.15, 2016

Gas prices are falling as the summer driving season has ended and demand is dropping.

The price of gasoline at retail pumps around the nation has tumbled since Labor Day as the price of crude oil remains low across the globe and refineries begin switching over to winter blends, which are less expensive to produce, according to AAA.

At the same time, the surge in driving in recent months has cut into inventories, but stock remain high and crude oil producers continue to produce despite low prices, the Energy Information Agency reports.

Financial News!

AAA reported that gas prices have fallen for 11 of the past 12 days, reaching today’s average of $2.18 per gallon. Drivers are saving two cents per gallon compared with one week ago, but are paying five cents per gallon more on the month.  (more…)

Gas Prices Ascending into Labor Day Weekend

Rising crude prices and Louisiana floods causing price jump.

by on Aug.31, 2016

With the Labor Day weekend looming, gas prices continue to rise.

Gasoline prices continue to move upwards heading into the Labor Day weekend.

After dropping for two months, including a streak of 53 out of 54 days, pump prices are increasing and the national average price for regular unleaded gasoline has risen for 14 consecutive days, according AAA.

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The average price of $2.22 per gallon nationwide marks an increase of six cents per gallon compared to one week ago and eight cents per gallon compared to one month ago, AAA reported. Despite the increase, drivers are paying 27 cents less than they did at this same time last year and are on track to pay the lowest Labor Day gas prices since 2004. (more…)

Gas Prices Ticking Upward as Summer Ends

If demand drops after Labor Day, prices are expected to follow suit.

by on Aug.25, 2016

Gas prices rose for the first time in months in August; however, if demand drops after Labor Day, prices are likely to follow.

A rise in the price of crude oil has pushed up the price of gasoline at pumps across the United States for the first time in two months.

The increase follows a summer-long streak during which the national retail average price of gasoline dropped on 54 of 55 days. But prices at the pump have now increased steadily during the past three weeks, according to AAA.

The Journal of Record!

The national average price for regular unleaded is $2.16 per gallon, which is four cents more than one week ago, but is two cents less than a month ago and 46 cents less than the same date last year, and the lowest price for this date since 2004, AAA said. (more…)