Detroit Bureau on Twitter

Posts Tagged ‘gas prices fall in January’

After Steady December Climb, Gasoline Prices Retreat in January

U.S. production levels continuing to increase.

by on Jan.31, 2017

Gas prices fell for the first part of January as U.S. production levels increased.

After climbing during the last month of 2016, the price of gasoline has retreated for the past three weeks, dropping to $2.27 per gallon, which is down four cents per gallon from a week earlier, according to the survey by AAA.

AAA said the growth in the number of U.S. oil rigs and the increased drilling it implies are raising expectations for a climb in domestic oil production.

Stay in the Loop!

Meanwhile, increased U.S. crude oil production and reduced demand has exerted pressure on the national average price at the pump, which has fallen for 21 consecutive days, AAA said. (more…)