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Posts Tagged ‘gas prices down’

Gas Prices on the Decline as Summer Driving Season Approaches

West Coast may see uptick due to refinery problem.

by on May.18, 2017

Gas prices are falling just as the summer driving season is kicking off.

With the summer driving season about to get underway, the price of gasoline is trending downward, following a small price spike in the late winter and early spring.

The national average is $2.34 per gallon, which is a penny cheaper than one week ago, seven cents less than a month ago, but 12 cents more than a year ago, according to the latest report from AAA.

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The latest report by the Energy Information Administration, a unit of the U.S. Department of Energy, shows that gasoline demand increased by 252,000 barrels in the past week. (more…)

Gas Prices Remain on Downward Track for 2016

Lack of demand and plenty of supply equates to low prices in foreseeable future.

by on Dec.29, 2015

Gas prices are expected to continue falling into the new year as demand remains low.

The big bust in gasoline prices that saved American motorists an average of $500 each during 2015, shows every sign of continuing into the New Year as gasoline prices sit at their lowest point since the great recession.

Drivers paid the lowest averages for the Christmas holiday since 2009, and pump prices continue to hover around the $2 benchmark. Retail averages have fallen for 45 of the past 52 days, according to AAA. Despite prices moving higher by fractions of a penny on the week, the average price of $1.999 is the lowest for this date since the Great Recession.

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Monthly and yearly discounts persist, and consumers are saving five cents per gallon versus one month ago, and 30 cents per gallon versus this same date last year. (more…)

US Gasoline Usage Lowest Since 1984

Better fuel economy, less driving helps cut gas prices.

by on Mar.26, 2015

More fuel efficient vehicles, like Ford's C-Max line-up, have helped reduce the amount of gasoline used by Americans in the last three decades.

A new study from the University of Michigan examines one of the important factors that have undermined the price of oil and gasoline: Americans are using less gas.

The price of gasoline and crude oil has plunged since last summer and the role of new discoveries in North American shale formations has been highlighted.

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Over the past two years, oil production in the U.S. has reached levels last seen in the late 1960s and early 1970s. Average fuel consumption by American drivers is at its lowest level in at least 30 years, according to a University of Michigan researcher. (more…)

Holiday Gas Prices at Four-Year Low, AAA Says

Average price is below $4 a gallon in every state.

by on Nov.25, 2014

The 41.3 million Americans who are preparing to travel “over the river and through the woods” to grandma’s house will be paying the lowest holiday prices for gas in five years, according to estimate prepared by the AAA Daily Gas Gauge.

AAA reported the national average price for regular unleaded gasoline has fallen for 60 consecutive days, reaching today’s price of $2.81 per gallon.

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“This is 7 cents less than one week ago, one quarter less than one month ago and 46 cents less than one year ago. Today’s price is the least expensive since November 4, 2010 and motorists are on target to pay the lowest averages at the Thanksgiving holiday since 2009, when the national average price was $2.63 per gallon,” AAA said. (more…)