floridafan
Verified User
While we were all traveling on the Fourth of July weekend and otherwise enjoying our summer, we were increasing our demand for gasoline. Yet the price of the stuff did a funny thing: It fell.
AAA puts the average price of a gallon of regular gas at $4.67 on Monday. That's down 13 cents in the past week — and down 33 cents from a month ago, when the nationwide average was an even $5 a gallon.
A gallon of premium is down just 25 cents, at $5.41, while diesel has fallen just 12 cents to $5.64.
Obviously $4.67 for regular is still a high price and hardly means that happy days are here again, but a 33-cent reduction does represent a $6 savings on an 18-gallon fill-up.
The auto club estimates that 42 million Americans took a driving vacation on the Independence Day weekend, and gas retailers typically hike up their prices during the summer travel months. The federal Energy Information Administration (EIA) says demand in oil rose from 8.92 million barrels per day to 9.41 million b/d ahead of the holiday — that's a 5.5% increase. Not only that, total domestic gas stocks decreased by 2.5 million barrels.
https://www.autoblog.com/2022/07/11/gas-price-falls/
AAA puts the average price of a gallon of regular gas at $4.67 on Monday. That's down 13 cents in the past week — and down 33 cents from a month ago, when the nationwide average was an even $5 a gallon.
A gallon of premium is down just 25 cents, at $5.41, while diesel has fallen just 12 cents to $5.64.
Obviously $4.67 for regular is still a high price and hardly means that happy days are here again, but a 33-cent reduction does represent a $6 savings on an 18-gallon fill-up.
The auto club estimates that 42 million Americans took a driving vacation on the Independence Day weekend, and gas retailers typically hike up their prices during the summer travel months. The federal Energy Information Administration (EIA) says demand in oil rose from 8.92 million barrels per day to 9.41 million b/d ahead of the holiday — that's a 5.5% increase. Not only that, total domestic gas stocks decreased by 2.5 million barrels.
https://www.autoblog.com/2022/07/11/gas-price-falls/
