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Drivers are finally getting some relief at the pump. The national average gas price has dropped below $4 a gallon for the first time in months, with prices falling in 47 states as oil markets react to developments in U.S.-Iran negotiations.
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The average fuel economy for new vehicles increased 0.3 mpg to 25.4 mpg in July from June levels as a result of a lower proportion of pickups offered, according to the University of Michigan's Transportation Research Institute (UMTRI).
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The nation's average price of regular unleaded stayed at $2.35 per gallon for the week ending Aug. 14 as a result of strong demand, high imports, and increasing production, according to AAA.
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The national average price of a gallon of regular unleaded increased 3 cents to $2.35 for the week ending Aug. 7 due to summer demand "running full speed ahead," according to AAA.
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The national average price for a gallon of regular unleaded increase 4 cents to $2.32 and reached a high-water mark for the past six weeks. It has increased for 12 of the past 15 days, reports AAA.
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The average national gasoline price increased at least 3 cents in 39 states to reach $2.28, which is also 3 cents higher than it was a week ago, according to AAA.
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California's Legislature has voted to extend the state's cap-and-trade program through 2030, which could result in an increase to the gasoline tax and would codify the Low Carbon Fuel Standard (LCFS) into law.
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The national average price of regular unleaded fell 1 cent to $2.25 per gallon for the week ending July 17 due to near all-time levels of demand while supply has ebbed lower.
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Lower than earlier forecast crude oil prices are expected to translate into continued low prices at the pumps for both diesel and gasoline, according to a new U.S. Energy Department report.
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The national average price of a gallon of regular unleaded gasoline increased 3 cents to $2.26 for the first increase in five weeks for the week ending July 10, according to AAA.
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Increased production and sales of pickup trucks and SUVs is lowering the average fuel economy for new vehicles, which fell 0.2 mpg to 25.1 mpg in June, according to the University of Michigan's Transportation Research Institute (UMTRI).
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