Gasoline Demand Declines for Fourth Straight Week as Average Prices Hold Steady
Since the beginning of November, U.S. gasoline demand has softened, and average fuel prices have remained flat at $2.16 on the week.
With softer gasoline demand, many states are seeing pump prices push cheaper, though at modest rates.
Photo: AAA
Since the beginning of November, U.S. gasoline demand has softened, meanwhile, average fuel prices have remained flat at $2.16 on the week, according to AAA.
“Gasoline demand is down 14% year-over-year. The numbers we are seeing as of late are very similar to readings from May when many states were locked down and demand was very low,” said Jeanette Casselano McGee, AAA spokesperson. “The fact is, Americans are filling-up less as states re-introduce travel restrictions and the pandemic lingers.”
With softer gasoline demand, many states are seeing pump prices push cheaper, though at modest rates, AAA said.
Regardless, amid low gasoline demand, high gasoline inventory and a resurgence in coronavirus cases, gas prices are not likely to see large increases.
Average gasoline prices are four cents less than last month and 40 cents cheaper than last year, according to AAA.
The nation’s top 10 largest monthly changes are Florida (up 14 cents), Delaware (up 11 cents), Washington, D.C. (up 10 cents), New Jersey (up 10 cents), Utah (down 10 cents), Maryland (up 9 cents), Iowa (up 8 cents), Arkansas (up 7 cents), Missouri (up 7 cents) and Oklahoma (up 7 cents).
Meanwhile, the nation’s least expensive markets are Mississippi ($1.84), Missouri ($1.84), Texas ($1.85), Louisiana ($1.87), Oklahoma ($1.88), Arkansas ($1.90), Tennessee ($1.91), South Carolina ($1.91), Alabama ($1.91) and Kansas ($1.94).
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