Today’s AAA National Average $2.649

Price as of 10/20/19

Gas Demand Drops, But Higher Oil Prices Push Pump Prices Up

Gas Demand Drops, But Higher Oil Prices Push Pump Prices Up

September 19,2019

Fall typically brings lower gas demand, and the Energy Information Administration’s latest weekly report shows just that. For the week ending on September 13, demand dropped by 900,000 b/d from the previous week to 8.9 million b/d. Additionally, total domestic stocks increased by 800,000 bbl to 229.7 million bbl. Typically, these market shifts would push pump prices down, but increased oil prices – a result of attacks on oil facilities in Saudi Arabia over the weekend – have pushed pump prices up. Since Monday, the national average for unleaded regular gasoline has increased 10 cents to $2.66.