![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() by Daniel J. Graeber Washington (UPI) Jan 12, 2016
The average price for a gallon of regular unleaded gasoline in the United States is the cheapest it's been in nearly seven years, retail market analyses find. Motor club AAA reports a national average price at around 1.96 per gallon for Tuesday, about 1.8 percent, or three cents, lower than one week ago. Crude oil prices started the year with drastic declines that followed two days of trading in the Chinese stock markets shortened by emergency mechanisms after shares dropped around 7 percent. Trends in oil prices are usually matched by the price at the pump. AAA said retail gasoline prices have dropped for 56 of the past 66 days "and should remain relatively low because there is more than enough oil and gasoline around the world to meet demand." Separate analysis from retail market watchdog group GasBuddy finds gas prices should continue moving lower as the large build in crude oil inventories in the United States last week suggested weak seasonal demand. "Such a large rise came at the hands of a plunge in gasoline demand, likely coming as Americans get back into their work and school routines after the holiday season," their emailed report read. Gasoline prices are typically lowest during the winter because seasonal demand is impacted by cold and snowy weather. Consumer gasoline prices usually peak by around May or June as refiners start regular maintenance to switch to a summer blend of gasoline, which requires additional processing steps to meet environmental safeguards. California, which because of higher taxes usually has some of the highest gas prices in the nation, is burdened by a string of refinery issues, though even California prices dropped in response to plummeting crude oil prices. All 50 states saw a decline in gas prices from one week ago. Missouri had the lowest state average as of Tuesday at $1.64 per gallon.
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |