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Tight refining supply has kept the gap wide between wholesale gasoline futures and retail prices, currently at about $1.25 a gallon, far exceeding the average of 88 cents over the past five years.
The main reasons behind the fall decline is the switch to a less expensive winter blend driving fuel and lower seasonal demand. "Gas prices will likely keep dropping until the end of the year ...
As of Monday, per AAA data, Mississippi had the lowest average gas price at about $2.94 per gallon — followed by $2.95 Oklahoma and just under $2.97 in Arkansas.
Example from Germany 2007, €1.319/l. The usage and pricing of gasoline (or petrol) results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation or subsidy, and the availability of local sources of gasoline (supply).
U.S. gasoline prices are heading south and may hit $3 a gallon in many places in coming weeks with crude oil futures down $10 a barrel over economic fears and eroding demand. The drop in gasoline ...
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Low demand and high U.S. inventories contributed to a 6.6% decline for WTI to $53.43, the lowest since October 26, 2017, on November 20. Brent fell 6.4% to $62.53, the lowest since February. [96] At Thanksgiving, gas was $2.62, down more than 20 cents since the start of October. [54] Oil fell the most for any month in ten years.
On Wednesday, the national average price of a gallon of gas sat at $3.46 per gallon, down five pennies from a month ago and $0.37 lower than a year ago, according to AAA data.