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Posts Tagged ‘price at pump jumps’

Average Gas Prices on the Rise After Holiday

AAA suggests getting your driving trips in now.

by on Jul.13, 2017

Gas prices moved upward – on average – for the first time in five weeks this week, according to AAA.

With the summer driving season in full swing AAA reports that gasoline prices across the U.S have begun to creep upward.

For the first time in five weeks, the national average gas price is rising. At $2.26, today’s price has been moving higher since July 6, and is three cents more than last week. The price increase follows a week of solid demand growth and a third straight week of gasoline inventory drawdowns across the country.

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“Gas prices are still at some of the cheapest prices we’ve seen this year, but consumers should take advantage of them while they can,” said Jeanette Casselano, AAA spokesperson. (more…)

Gas Prices Edging Upward on OPEC News

Oil producing countries slowing production levels.

by on Dec.13, 2016

With oil producing countries cutting production, gas prices have been rising for the last two weeks.

With the Christmas and New Year holiday approaching, the effort by the Organization of Petroleum Exporting Countries and non-OPEC producers such as Russia to curtail production is beginning to force up the price of the gasoline used by American consumers.

AAA reported the national average has increased for 14 days in a row following the OPEC oil production agreement Nov. 30. The average price of gasoline of $2.21 per gallon is up three cents per gallon on the week and two cents per gallon on the month. The national average is up 20 cents compared to the same date last year, according to AAA.

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Last month, OPEC agreed to trim output by 1.2 million barrels per day beginning January 2017 and markets have continued to react to the production cut agreement with crude oil prices hitting an 18-month high, AAA noted. (more…)

Rising Summer Temperatures Means Rising Gas Prices

Despite the rise, prices significantly lower than last year.

by on Jun.02, 2016

With the summer driving season now in full swing, demand levels are rising as are prices.

With the Memorial Day in the rear-view mirror, the summer driving season has begun in earnest and demand for gasoline remains very strong, according to AAA.

AAA, however, also reported that motorists are paying the lowest gas prices for this time of year in more than a decade. Gas prices during the Memorial Day holiday were the cheapest since 2005 and down 42 cents per gallon versus last year’s holiday, according to AAA latest nationwide survey.

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The average price of $2.32 per gallon represents an increase of three cents per gallon on the week, and consumers are paying 11 cents more per gallon than they were a month ago, AAA said, while this year’s summer driving season is expected to be characterized by higher-than-normal gasoline demand. (more…)