Tag: Gas Prices
With a four-cent jump on the week, today’s national gas price average sets a new high for the year at $2.88. This average may only be seven cents more than a year ago, but it is nearly 20 cents more than a month ago and 63-cents more expensive than at the beginning of the year.
The latest Energy Information Administration (EIA) data registers gasoline demand at 8.6 million b/d for the week ending December 28 – the lowest level on record since February 2017 pushing gasoline prices lower.
Consumers are spending $69 more a month to fill-up compared to last summer, according to AAA. Gas prices have increased 1 1/2 percent since summer of 2017.
At $2.87, the national gas price average jumped six cents on the week in part due to the White House’s decision to re-impose sanctions on Iran.
Heading into the final week of the year, the national average price for a gallon of gasoline is $2.44, an increase of two cents on the week.
'Tis the holiday season to traditionally spend with family and friends and this year Americans are traveling in record numbers. AAA forecasts 107.3 million Americans will take to planes, trains, automobiles and other modes of transportation during the year-end holiday period from Saturday, Dec. 23 through Monday, Jan. 1.
The national average price for a gallon of gasoline dropped two cents on the week to $2.46. East Coast and Midwest states are seeing the largest drops in gas prices – as much as six cents – in the last week.