Relief at the Pump? Gas Prices Continue Lowering For Now
According to a recent report by the American Automobile Association (AAA), prices at the pump fell by $0.05 down to $3.90 in the last week following stable global oil prices and domestic demand for gas.
A AAA spokesperson by the name of Andrew Gross stated, “Drivers are now benefiting from gas prices that are $1.11 less than their peak in mid-June, but now we need to keep an eye on the weather as hurricane season arrives. These storms can affect prices by disrupting oil production in the Gulf of Mexico and impacting large coastal refineries.”
Recent studies from AAA indicate that many drivers are making big changes to deal with the pressure and issues caused by high fuel prices at the pump. One recent survey shows that nearly ⅔ of U.S. adults claim to have changed their lifestyle or driving habits since March, with the top two changes combining errands when driving and driving less in general.
Data gathered from the Energy Information Administration (EIA) shows that the demand for gas rose from 9.12 million b/d to 9.35 million b/d in the last week, which is exceptionally similar to the previous year. Stock values for total domestic gasoline went down by almost 5 million bbl to 215.7 million bbl. Despite the rising demand for gas and the tightening of supplies, relaxing oil prices has dramatically assisted in lowering fuel prices at the pump. Drivers will likely continue to see pump prices fall should oil prices continue to creep lower.
Today, the national average is $0.51 less than the previous month, resting at $3.90. However, it is $0.74 higher than the previous year.
Top 10 Weekly National Decreases
- Florida −12 cents
- West Virginia −11 cents
- Maine −11 cents
- New Jersey −11 cents
- Rhode Island −11 cents
- Vermont −11 cents
- Massachusetts −11 cents
- Wyoming −10 cents
- Connecticut −10 cents
- Mississippi −10 cents
Top 10 Nationally Least Expensive Markets
- Arkansas - $3.41
- Mississippi - $3.43
- Georgia - $3.43
- Texas - $3.44
- Tennessee - $3.44
- Louisiana - $3.46
- South Carolina - $3.46
- Missouri - $3.47
- Alabama - $3.47
- Kansas - $3.48
Recent Posts
-
How to Keep Your Pets Safe While Camping
RVing and camping are a great getaway from the hustle and bustle of work and the city and the day-to …Jul 2nd 2024 -
Why Replace Your RV Furniture?
You may wonder when is the best time to replace your RV furniture. There is no one right answer to t …May 20th 2024 -
Can You Put Regular Furniture in an RV?
Many new and old RV owners ask themselves this question when they feel the need to update th …Apr 25th 2024 -
4 Tips for Securing RV Furniture While Traveling | RecPro
How To Secure RV Furniture There are few things that beat going out on an adventure with an RV …Apr 25th 2024 -
How To Keep RV Furniture From Peeling
Peeling RV Furniture | Why it Peels and How to Stop it Your RV furniture is a point of pride on yo …Apr 25th 2024 -
Turning up the Heat With an RV Fireplace
There’s an unlimited number of cool and exciting features you could add to your recreational vehicle …Apr 25th 2024