GPS News  
OIL AND GAS
AAA: Savings at the pump starting to plateau
by Daniel J. Graeber
Washington (UPI) Jan 20, 2016


disclaimer: image is for illustration purposes only

U.S. drivers continue to see gas prices drop, though the rate of declines are leveling off with prices only 18 cents less than this date last year, AAA said.

Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline at $1.87, a decline of 4 percent, or 8 cents, lower than one week ago.

Gasoline prices more or less mirror crude oil, which started the year with a dramatic downturn. AAA said, as with crude oil prices, the rate of decline in retail gas prices is the fastest it's been since the middle of November.

"Motorists typically enjoy falling gasoline prices in early winter due to decreased demand for gasoline and that also is helping to push prices downwards," the motor club said in a weekly retail market report. "Despite recent declines, the national average price of gas is only 18 cents per gallon cheaper than a year ago since prices also were very low in early 2015."

Brent crude oil dropped 57 percent from Jan. 20, 2014, to Jan. 20, 2015 and is 39 percent lower than on this date last year. Most market analysts expect crude oil prices to remain suppressed, moving back above the $50 per barrel mark only by 2017.

U.S. retail gasoline prices tend to swing higher during the spring as refiners start making a summer blend of gasoline, which is more expensive to produce. Few analysts expect retail prices to move above $3 per gallon any time soon.

"AAA previously estimated the annual average price of gas in 2016 will be $2.25-$2.45 per gallon, although the sharp decline in oil costs since the year began has the potential to lead to even lower gas prices if global oversupply and economic concerns persist," the motor club said.

Oklahoma has the lowest state average price in the nation at $1.58 per gallon. Only 12 states in the nation are reporting an average price above $2 per gallon.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
IMF lowers economic forecast for Saudi Arabia
Davos, Switzerland (UPI) Jan 19, 2016
The economy of oil-rich Saudi Arabia is expected to face growth restrictions at least for the next two years, the International Monetary Fund said. The IMF said in an update to its seminal World Economic Outlook Saudi Arabia's economy will slow from 3.4 percent growth last year to 1.2 percent in 2016 and 1.9 percent next year. Globally, the IMF said developing economies declined for the ... read more


OIL AND GAS
Bird flu detected in US turkey flock

Breed-your-own insect 'revolution' for the kitchen

Poultry farming frozen for bird flu cleanup in French SW

Fewer than 1 in 25 Seattleites can really eat locally

OIL AND GAS
Uncovering oxygen's role in enhancing red LEDs

How copper makes organic light-emitting diodes more efficient

New Chips Ease Operations In Electromagnetic Environs

New material for detecting photons captures more quantum information

OIL AND GAS
Rockwell Collins to support Pakistani C-130 fleet

MH17 relatives demand release of radar images

Airbus forms joint venture in bid for Canadian contract

French military orders more tactical transport helicopters

OIL AND GAS
Ghost town tests self-driving cars of tomorrow

Renault shares keep on skidding on emission fears

Renault recalls vehicles amid failed emissions test

Daimler Trucks eyes swift return to post-sanctions Iran

OIL AND GAS
Ukraine launches new China trade route bypassing Russia

WTO faults EU in nuts and bolts dispute with China

China FDI up 5.6 percent in 2015: official data

Chinese exports down in December, but better than forecast

OIL AND GAS
NUS study shows the causes of mangrove deforestation in Southeast Asia

The Amazon's future

Tens of millions of trees in danger from California drought

Modeling Amazonian transitional forest micrometeorology

OIL AND GAS
Fires burning in Africa and Asia cause high ozone in tropical Pacific

Satellites find sustainable energy in cities

Giant icebergs play key role in removing CO2 from the atmosphere

NOAA's GOES-S, T and U Satellites Are Shaping Up

OIL AND GAS
Shiny fish skin inspires nanoscale light reflectors

FAU researchers show how mother-of-pearl is formed from nanoparticles

Nanodevice, build thyself

Nano-hybrid materials create magnetic effect









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.