Tag Archives: eia

Memorial Day Weekend Gas Prices Highest in Four Years

As holiday travelers start running the roads today in record numbers, Memorial Day weekend gas prices are the highest they’ve been in four years, according to the latest data from AAA. The national average for a gallon of regular is at $4.56, up 3 cents over last week and $1.38 higher than this time last year.

“Current prices are close to what drivers were paying 4 years ago, when the national average on Memorial Day was $4.61. With gasoline demand on the rise and the prolonged closure of the Strait of Hormuz, pump prices are likely to remain elevated as the summer travel season gets underway,” AA said. Continue reading

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AAA – Weekly Average Pump Gas Prices Up 27 Cents!

Gas prices are going back up again, according to the latest data from AAA. The national average is $1.12 higher than it was at this time last year. Oil prices are above $100/barrel.

“After ticking down for nearly two weeks, gas prices are going back up again with the national average seeing a 27-cent hike in one week. The national average is $1.12 higher than it was this time last year, as oil prices surge above $100/barrel with no indication of when the Strait of Hormuz will reopen. Gas prices are the highest they’ve been in four years since late July 2022,” AAA said in a release. Continue reading

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AAA – Pump Gasoline Prices Still Soaring

The national average for a gallon of regular gasoline went up 8 cents since last week to $4.16, according to the latest data published by AAA. The last time the national average reached that price was in early August of 2022.*

“Crude oil prices remain high, even as they’ve fluctuated in recent days following the announcement of a 2-week ceasefire between the U.S. and Iran. The price for a barrel of crude dropped below $100 but then rose again, highlighting the volatility of oil markets and fluidity of geopolitical events,” AAA said in a release. Continue reading

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U.S. Fuel Consumption Drops in Q1 as High Prices Hurt

Total U.S. liquid fuels consumption fell by an estimated 850,000 bbl/d (4.5%) in the first quarter of 2012 from the same period last year, the Energy Information Agency announced this afternoon. However, hard-pressed consumers did not see that drop in demand reflected in the price of fuel since the energy markets do not always follow academic economic theory.
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