average gas prices by year 2019
Gas prices continue to trend – slowly, but surely – cheaper with half of all states seeing pump prices drop two-cents on the week. with all states in the region seeing gas prices decrease or remain stable on the week. This poises the region for cheaper gas prices, especially as demand is likely to drop along with the end of peak tourism season in the region. Colorado (-5 cents) saw the largest weekly decline, followed by Idaho and Montana – each with a two 2 cent drop – and Wyoming (-1 cent). Regional refinery utilization hit 100% in the EIA’s latest report. To maximize your fuel efficiency, take five seconds to accelerate your vehicle up to 20 kilometres per hour from a stop. West Virginia ($2.03) and Virginia ($1.86) saw the largest increases at nine cents and seven cents, respectively, followed by Maryland (+7 cents) and Kentucky. Additionally, EIA’s weekly report showed that total domestic crude inventories grew by 5.7 million bbl last week, bringing the total to 538.1 million bbl. On the week, all states in the region have gas prices that are cheaper by two cents to a nickel. Hurricane Dorian has been the driver for the increases in Florida and, most likely, South Carolina. New Mexico (+5 cents), Georgia (+4 cents), Oklahoma (+3 cents) and Louisiana (+3 cents) rank among the top 10 states with the largest weekly changes. Crude prices could increase this week amid further indications that global crude supply will tighten this fall. The region’s refinery utilization rate (96%) and gasoline stock levels (84 million bbl) both held steady from the previous week according to the latest EIA data. In the Mid-Atlantic and Northeast region, gas prices are as much as a nickel cheaper than last week. Other states in the region are seeing the following prices: Washington ($3.21), Nevada ($3.13), Oregon ($3.05), Alaska ($3.00) and Arizona ($2.81). “Many factors are driving this decrease, but the low price of crude oil is chief among them.”. At the close of Friday’s formal trading session on the NYMEX, WTI decreased by 24 cents to settle at $54.85, but on Monday, the price was up to $61/bbl. With a nearly 1 million bbl build, regional gasoline stocks sit at 75.1 million bbl. In which seasons are gas prices the lowest?Winter months usually have lower gas prices since people tend to drive less due to the poor road conditions. Should stocks increase that would help to minimize large pump price jumps in coming weeks. The average price of gas … Gas, Hybrid and Electric – What you need to know, Canadian Association of Petroleum Producers. “As Americans drive more, they are re-fueling gasoline demand levels, which is helping to lift pump prices, said Jeanette Casselano, AAA spokesperson. Copyright © 2015 AAA, All Rights Reserved. On the other side of the coin, Missouri ($2.27), Kentucky ($2.32) and Kansas ($2.32) are the cheapest in the region. At 423 million bbl, stocks are approximately 21.5 million bbl higher than were they were at the end of August 2018. In fact, tests have shown that most cars use about 20 per cent less fuel when they are driven at 90 km/h instead of 110 km/h. Across the country, state gas price averages are cheaper on the month and the week. While all states in the region saw declines at the pump, they were not all significant. As always, hurricane season has the potential to cause declining gas prices to shoot back up. A total of six states saw prices increase between two to five cents since last Monday, while the remaining states saw prices decrease by a few pennies. Utah’s average remained stable at $2.91. State averages in the region range from $1.84 to $2.30. However, pump price drops have been moderate (an average of four-cents) in comparison to other regions with double-digit weekly changes. Hawaii ($3.18) and California ($3.00) remain the most expensive markets in the country. Though, Texas and South Carolina also saw their state average decline six-cents on the week. Nebraska (+12 cents), Kansas (+11 cents) and Wisconsin (+11 cents) had the largest increases in the region and land among the top 10 states with the biggest weekly jump. Washington ($2.64), Nevada ($2.53), Oregon ($2.55), Alaska ($2.41) and Arizona ($2.29) follow. This caused the national average to push cheaper by a penny down to $2.56. September 9th, 2019 by AAA Public Affairs. However, any major jumps in crude oil prices may reverse this trend and lead to more expensive gas prices nationally and in the region. States in the South and Southeast carry among the cheapest gas prices in the country and some saw large declines on the week. However, overall levels sit at a very healthy 83.2 million bbl and therefore gas prices are poised to continue to push cheaper. At $2.70, Michigan’s average increased two cents on the week and was one of only two states in the country to see an increase. Americans are filling up at the pump more and more. Be consistent. All other states saw gas prices push more expensive by 10 to 12 cents, with Texas (+12 cents), South Carolina (+12 cents) and Florida (+11 cents) seeing the largest increases. New York ($2.84), Connecticut ($2.83), Washington, D.C. ($2.82) and Pennsylvania ($2.82) rank as the 9th – 12th most expensive gas price averages in the country. “Whether this is a short or long term trend will be determined by the price of crude oil prices and how quickly the facilities in Saudi Arabia can recover and get back online.”.
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