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Retail markup over crude oil and wholesale gasoline, 2014–2019 Oil, gas, and diesel prices RBOB Gasoline Prices. In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. [6]
On June 15 the Energy Information Association said oil consumption was down 3.5% from a year earlier, but wholesale gasoline demand was up for the first time in several weeks. The price of gas on June 17 was $3.67.5 a gallon, 25.1 cents lower than a month earlier but 96.8 cents above a year earlier. [61]
Oil fell more than 2 percent in the third week of December with Brent finishing at $72.57 and WTI at $69.12 due to concerns about whether Chinese demand was expected to increase. [85] At Christmas, gas was $3.04, four cents less than a year earlier, and one of the lowest prices since the COVID-19 pandemic. [86]
U.S. gasoline demand is expected to average 8.92 million barrels per day this year, about 20,000 bpd less than last year, the U.S. Energy Information Administration (EIA) said on Tuesday. It ...
The next year in 2011, as America was digging itself out of the worst economic catastrophe since the Great Recession, gas soared to $3.53 per gallon — or $4.75, when adjusted for inflation ...
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.
Gasoline consumption per automobile declined from 2,860 liters (755 U.S. gal) per year in 1941 down to 2,000 liters (540 U.S. gal)in 1943, with the goal of preserving rubber for tires since the Japanese had cut the U.S. off from over 90 percent of its rubber supply which had come from the Dutch East Indies and the U.S. synthetic rubber industry ...
The current decline is notable given prices at the pump are about $0.30 lower than a year ago, when oil was hovering around the same levels as today. ... "Gasoline demand has been weak," said the ...