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U.S. Fuel Prices Climbing. Up 28 Cents in a Week!
Fuel prices at the pump continued to climb by 28 cents since last week, according to a report released by AAA today.* With the Spring equinox ushering in warmer weather and more time on the road, gas prices are trending upward alongside seasonal demand. The Trump Administration Iranian war is clearly in play.
“Last week’s announcement by the White House to release 172 million barrels of oil from the U.S. strategic reserves over four months has no immediate relief on the oil market as the price of a barrel of crude continues to climb,” AAA said. “According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 9.24 million barrels a day to 8.72 million. Total domestic gasoline supply decreased from 249.5 million barrels to 244.0 million. Gasoline production also decreased last week, averaging 9.4 million barrels per day. Continue reading →