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AAA: National Average Falls Below $4/Gallon for First Time Since Early March
Posted on 8/11/22 at 11:43 am
Posted on 8/11/22 at 11:43 am
quote:
Since Monday, the national average for a gallon of regular gasoline dropped six cents to $3.99. The national average has not been below $4 per gallon since March 5. In the spring, oil prices spiked in reaction to Russia’s invasion of Ukraine, leading the national average to a new all-time high.
According to new data from the Energy Information Administration (EIA), gas demand increased from 8.54 million b/d to 9.12 million b/d last week. However, the rate is 307,000 b/d lower than last year. Moreover, according to EIA, total domestic gasoline stocks decreased by 5 million bbl to 220.3 million bbl. Although gasoline demand has increased and supply has tightened, lower oil prices have helped lower pump prices. If oil prices continue to decline, drivers will likely continue to see pump prices decrease.
At the close of Wednesday’s formal trading session, WTI increased by $1.43 to settle at $91.93. Crude prices rose yesterday after the U.S. Bureau of Labor Statistics reported a smaller than expected increase in inflation last month at 8.5 percent. The rise in market optimism helped to boost prices despite EIA reporting that total domestic crude supply increased by 5.4 million bbl last week.
Largest Weekly Decreases
Since last Thursday, these 10 states have seen the largest decreases in their averages: Colorado (-21 cents), Arizona (-21 cents), Illinois (-19 cents), Maine (-19 cents), Ohio (-18 cents), Kansas (-18 cents), West Virginia (-18 cents), Wyoming (-17 cents), Arkansas (-17 cents) and Indiana (-17 cents).
LINK /
Posted on 8/11/22 at 11:44 am to ragincajun03
Putin's Price Plunge?
This post was edited on 8/11/22 at 11:48 am
Posted on 8/11/22 at 11:45 am to ragincajun03
Funny what manipulation can do. Like removing federal taxes and opening up the reserves to millions of barrels a day. Not to mention the visit to Saudi to ask them to up production….
While everything else still increases in price.
While everything else still increases in price.
This post was edited on 8/11/22 at 11:46 am
Posted on 8/11/22 at 11:46 am to ragincajun03
This is an artificial deflation of prices by emptying the strategic reserve.
Posted on 8/11/22 at 11:46 am to ragincajun03
those greedy gas station owners must’ve collectively decided to back off…
Posted on 8/11/22 at 11:47 am to ragincajun03
Wonder if consumption is higher or lower.
Posted on 8/11/22 at 11:48 am to ragincajun03
As the decline in gas prices continues, those "I Did That" stickers on gas pumps get more and more hilarious.
Posted on 8/11/22 at 11:48 am to ragincajun03
Biden taking care of business NOT!!!! Lololol
#FJB
#FJB
Posted on 8/11/22 at 11:52 am to ragincajun03
Because people aren’t driving because it’s too expensive
Posted on 8/11/22 at 11:53 am to ragincajun03
Now compare it to August and March of 2020
Posted on 8/11/22 at 11:55 am to ragincajun03
Still high as giraffe pussy. 3 and some change aren’t good prices. Not conditioning me.
frick these pricks
frick these pricks
Posted on 8/11/22 at 11:56 am to ragincajun03
This admin has their collective buttholes clenched about a storm in the Gulf. Easily above $5 in this scenario
Posted on 8/11/22 at 12:06 pm to ragincajun03
quote:
Kansas (-18 cents)
Posted on 8/11/22 at 12:25 pm to ragincajun03
One thing very interesting and telling about supply and demand during the Covid shutdowns, April 2020 was the lowest U.S. supplied product of finished motor gasoline per month since March of 1971.
That is absolutely stunning to think about.
March 2020 was the lowest since February 1998.
That is absolutely stunning to think about.
March 2020 was the lowest since February 1998.
This post was edited on 8/11/22 at 12:27 pm
Posted on 8/11/22 at 12:30 pm to ragincajun03
We are supposed to cheer for this?
That still means it’s way too high
That still means it’s way too high
Posted on 8/11/22 at 1:11 pm to ragincajun03
Darth Brandon at it again
Posted on 8/11/22 at 1:12 pm to ragincajun03
Brandon is saving us all!!!!!!!!
Posted on 8/11/22 at 2:01 pm to ragincajun03
This is how government works, break things on purpose then pretend its not your fault and when you start coming out the other side give yourself a pat on the back and let everyone know the government is here to help.
Posted on 8/11/22 at 3:07 pm to ragincajun03
Saw it for 3.17 today in Leland, Ms
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