Today’s AAA National Average $2.636

Price as of 8/16/19

Month: June 2018

Oil Prices Reach Multi-Year High after Record Crude Drawdown

June 28,2018

For the first summer driving season in five years, the U.S. has seen the largest one-week reduction (9.9 million bbl) in crude inventories. The latest Energy Information Administration update reports that crude inventories now sit at 416.6 million bbl. When compared to this time last…Read more »

OPEC Deal Likely to Boost Crude Production

June 22,2018

Early reports out of Vienna, Austria, where OPEC ministers are meeting, suggest that the cartel and its production allies, including Russia, will likely announce an increase in combined crude production, potentially of 1 million b/d. In light of the refreshed U.S. sanctions on Iran’s oil…Read more »

Consumer Gasoline Demand Hits All-Time High

June 14,2018

Registering at 9.88 million b/d for the week ending on June 8, the consumer gasoline demand rate is the highest weekly estimate on record since the Energy Information Administration (EIA)  began tracking it. The last time gas demand was estimated to be this high was…Read more »