Today’s AAA National Average $2.611

Price as of 11/12/19

Growing Gas Demand Lifts National Average

Growing Gas Demand Lifts National Average

October 31,2019

In its latest weekly report, the Energy Information Administration data shows that demand for gasoline grew from 9.59 million b/d to 9.78 million b/d last week. This latest rate is approximately 520,000 b/d higher than last year’s rate at this time. Growing demand, amid tight gasoline supplies, has contributed to a nominal increase in the national average – one cent since Monday. Gasoline stocks decreased for a fifth consecutive week by 3 million bbl to 220.1 million bbl, which is 6.1 million bbl lower than last year’s level at this time.