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I can't complain about gas prices.  It took a pandemic to bring them down last time and I don't want another one like that.

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  • phkrause changed the title to Gas prices
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Gas Prices Drift Lower as Drivers Prepare for July 4th Travel

WASHINGTON, D.C. (June 29, 2023)—Drivers hitting the road for the Fourth of July holiday will find the gift of lower gas prices across most of the country. AAA forecasts that more than 50 million people will celebrate the nation’s birthday by traveling, with a record 43.2 million going by car. The national average for a gallon of gas fell four cents since last week to $3.54.

https://newsroom.aaa.com/2023/06/gas-prices-drift-lower-as-drivers-prepare-for-july-4th-travel/?

phkrause

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Stat for the road

 
mail?url=https%3A%2F%2Fimages.axios.com%
Screenshot: CNN

Inflation and high gas prices have dragged down Biden's approval rating through much of his presidency, but this Fourth of July is finally bringing a reprieve.

  • Yes, but: Gas prices are still 35% higher than they were at the end of 2019, according to the Wall Street Journal.

phkrause

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Gas prices heat up

 
mail?url=https%3A%2F%2Fgraphics.axios.co
Data: AAA. Chart: Axios Visuals

Gas prices ticked up 15¢ in just the past week, as the heat wave hitting Texas and Louisiana slowed oil refineries.

  • Why it matters: The nation's mood runs on gas prices — when they're high, economic vibes worsen. Rising energy prices keep inflation elevated, complicating the Fed's efforts to rein in higher prices, Axios' Emily Peck writes.

🔎 Zoom in: Refineries, which turn crude oil into products like gasoline, don't function as efficiently in 100°-plus weather.

  • Demand for gas typically rises in the summer. Gasoline inventories in the U.S. are at their lowest July level since 2015, Patrick De Haan, head of petroleum analysis at GasBuddy, said in a note.

Some states are seeing higher prices than others, AP reports.

  • The average price per gallon in California was $5.01 yesterday, the highest in the country.
  • Gas was cheapest in Mississippi, at $3.29 a gallon.

Reality check: Prices are still nowhere near the high levels we saw last summer.

👀 What to watch: Hurricane season. Severe weather could also impact refineries and push up prices.

ps:Anything for these guys to raise gas prices!!! 👎

phkrause

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Mapped: Gas-price break

 
mail?url=https%3A%2F%2Fdatawrapper.dwcdn
Data: GasBuddy. Map: Axios Visuals

A gallon of gas averages $3.82 nationwide as of this morning — up a bit from the winter, but lower than last year's highs of nearly $5.

  • Why it matters: Gas prices are generally falling or flat compared to last August, Axios' Alex Fitzpatrick and Kavya Beheraj report.

🌡️ What's happening: Gas prices ticked up in recent weeks due to excessive heat in Gulf states such as Texas and Louisiana, where many of the country's oil refineries are located.

🔬 Zoom in: Compared to August 2022, gas prices have come down most in Idaho (-14.4%), Nevada (-12.1%) and Massachusetts (-11.0%).

  • They've gone up most in Iowa (+6.1%), Florida (+5.7%) and Georgia (+5.7%).

Interactive version of this map, with state-by-state data.

phkrause

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DeSantis vows to lower gas prices, but opposes offshore oil drilling in Florida

Gov. Ron DeSantis is promising to return America to the days of $2-a-gallon gasoline if he becomes president by unleashing domestic energy production, even though he’s opposed offshore drilling and fracking in his own state.

https://www.orlandosentinel.com/2023/10/02/desantis-vows-to-lower-gas-prices-but-opposes-offshore-oil-drilling-in-florida/?

phkrause

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Long lines at gas pump unlikely, but Middle East crisis could disrupt oil supplies, raise prices

WASHINGTON (AP) — Fifty years after the 1973 Arab oil embargo, the current crisis in the Middle East has the potential to disrupt global oil supplies and push prices higher. But don’t expect a repeat of the catastrophic price hikes and long lines at the gasoline pump, experts say.

https://apnews.com/article/israel-hamas-oil-iran-biden-sanctions-fefaf577359e2b4920d6d0035f763d22?

phkrause

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Florida gas prices haven’t been this low all year

The state average of $3.17 per gallon is five cents lower than the previous low set in March, according to Mark Jenkins, spokesman for AAA – The Auto Club Group.

https://www.orlandosentinel.com/2023/11/06/florida-gas-prices-havent-been-this-low-all-year/?

ps:"He predicts more stations are likely to follow shortly." This statement has come out to be untrue!! The gas prices went up today since this statement was made!! Personally I'm surprised that gas prices have not gone up more than the have!!

phkrause

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Gas drops to lowest price in 2023, with Central Florida under $3

Gas prices in Florida have fallen to their lowest level of the year with half the pumps in the state, including all of Central Florida, dropping to an average of less than $3 a gallon, according to AAA.

https://www.orlandosentinel.com/2023/11/20/gas-prices-drop-below-3-for-half-of-florida-aaa-says/?

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Charted: Turkey Week gas prices
mail?url=https%3A%2F%2Fdatawrapper.dwcdn
Data: U.S. Energy Information Administration. Chart: Axios Visuals

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$3 gas is back
mail?url=https%3A%2F%2Fdatawrapper.dwcdn
Data: AAA. Map: Deena Zaidi/Axios Visuals

U.S. gas prices have returned to the big round figure of around $3 a gallon, Axios' Matt Phillips writes.

  • Why it matters: Falling gasoline prices are typically a tonic for sour consumer sentiment.

Go deeper.

phkrause

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phkrause

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Pump prices drop
The line chart shows the weekly average price per gallon of regular unleaded gasoline in the U.S. from June 9, 2014, to June 10, 2024. The data reveals fluctuations in gas prices over this 10-year period, with notable peaks and troughs, with prices currently sitting at $3.43.
Data: U.S. Energy Information Administration. Chart: Axios Visuals

Gas prices this spring have so far lagged behind the highs of 2023.

  • Why it matters: Drivers are finally catching a break. It's also a break for President Biden, whose approval rating has been walloped by inflation.

🔮 What we're watching: The relief could continue. Demand for gas has been lower this year compared with the last couple of years, and prices could stay lower than usual through the summer, according to AAA.

phkrause

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🚗 Relief for holiday gas prices
 
A bar chart that shows the average regular gas price by year per gallon since 2014. Prices peaked in 2022 at $4.81. 2024 is at $3.51
Data: U.S. Department of Energy; Chart: Axios Visuals

Gas prices over the July Fourth weekend will be lower than in the past several years, Axios Kelly Tyko reports.

  • The national average sits at $3.51 per gallon, down from $3.54 a year ago and $4.79 during the holiday weekend in 2022, according to AAA data.

️ Nearly 61 million people will travel by car this weekend, according to AAA's holiday forecast — a new record.

phkrause

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Charted: Oil prices slide
 
A line chart that displays the daily Brent crude oil prices from January 2 to September 4, 2024. Prices peaked at $91.17 on April 5, then declined to $73.16 by September 4.
Data: Yahoo Finance. Chart: Axios Visuals

An unusual mix of forces is pushing oil prices sharply down as the U.S. election enters its final weeks, Axios' Ben Geman writes.

  • Why it matters: Cheaper oil is likely to keep gasoline prices moving south too, a potential lift for Vice President Harris, who faces political challenges around inflation.

The intrigue: Analysts see several unrelated reasons for the recent declines.

  • Weak Chinese economic data keeps arriving.
  • Reports of a deal among rival Libyan factions to restore production.
  • The end of the U.S. summer driving season.

🔮 What's next: "As long as we don't see a major hurricane head into the Gulf," Patrick De Haan, GasBuddy's head of petroleum analysis, said in a research note, "the national average could fall below $3 [per gallon] in the next two months."

phkrause

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Charted: Falling gas prices
 
A line chart that illustrates the average price of regular unleaded gasoline in the U.S. from November 2023 to November 2024. Prices peaked at $3.639 in April 2024, followed by a gradual decline to $3.06 by November 2024, indicating a general downward trend after mid-2024.
Data: GasBuddy. Chart: Axios Visuals

Gas prices have been dropping nationally since July, Axios Columbus' Andrew King writes from GasBuddy data.

  • AAA's national average price per gallon, as of this morning: $3.06.

Map with state-by-state price (Spoiler: Highest in Far West plus Ill., Pa.; lowest in Texas and 10 nearby states).

phkrause

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Charted: Gas prices fall below $3
 
A line chart that illustrates the average gas price in the U.S. per regular unleaded gallon from Jan. 1, 2019, to Dec. 9, 2024. Prices were at $2.24 at the start, peaked at $5.03 on June 14, 2022, before declining to $2.98 by Dec. 9, 2024, indicating a notable downward trend.
Data: GasBuddy. Chart: Axios Visuals

Gas prices haven't been this low since spring 2021, Axios' Emily Peck writes.

  • The average gallon of gas cost $2.98 yesterday — and has been under $3 since Saturday, according to GasBuddy data.

Why it matters: Displayed prominently on big signs everywhere you drive, prices at the pump are a key economic indicator for the general public.

phkrause

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Gas prices

Gas prices will fall in 2025 for the third year in a row, according to GasBuddy projections shared exclusively with CNN. The forecast calls for a national average of $3.22 for the year, down from around $3.33 in 2024 and the lowest since 2021. It would translate to Americans spending about $115 billion less on fuel than in 2022. However, GasBuddy cautions there are several major wild cards, including President-elect Donald Trump's proposed tariffs on Canada and Mexico that could increase gas prices or risk starting a trade war with America's biggest trade partners.

phkrause

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Keystone oil pipeline shutdown could quickly lead to higher gasoline prices

BISMARCK, N.D. (AP) — The nearly 2,700-mile Keystone oil pipeline was shut down Tuesday morning after it ruptured in North Dakota, halting the flow of millions of gallons of crude oil from Canada to refineries in the U.S. and potentially leading to higher gasoline prices.

https://apnews.com/article/keystone-oil-pipeline-north-dakota-spill-36e86142566763a5464e1dd132eede56?

phkrause

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  • phkrause changed the title to Gas/Oil prices
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🛢️ Charted: Big oil spike
 
A line chart showing the price of oil every 15 minutes from June 9 to 3pm on June 13, 2025. The price fluctuated between $66 and $71, before spiking to $78 after Israel attacked Iran on June 12. It is currently at $74.85.
Data: Financial Modeling Prep. Chart: Axios Visuals

This chart shows oil spiking late last week after Israel launched its first strikes on Iran.

  • Why it matters: The Middle East conflict could eventually reach American consumers — especially if Iran attempts to block the Strait of Hormuz, the world's most important oil chokepoint.

Go deeper: Bloomberg gift link.

phkrause

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⚠️ Charted: Strait of Hormuz chokepoint
 
A column chart showing average daily barrels of petroleum transported through the Strait of Hormuz and worldwide from 2020 to 2025, as of Q1 2025. On average, the world maritime oil trade transported a total of 74.2 million barrels per day. About 20.3 million barrels per day, or a third of global volume, was transported through the Strait of Hormuz alone.
Data: U.S. Energy Information Administration. Chart: Kavya Beheraj/Axios

This chart shows why fears of Iran impeding oil flows through the Strait of Hormuz are such a massive threat to supplies, Axios Generate author Ben Geman writes.

  • Why it matters: The narrow channel between Iran and Oman is the chokepoint for a quarter of the world's seaborne oil trade — and around one-fifth of all oil movements.

Crude oil prices jumped — but didn't head for the stratosphere — as trading markets opened for the first time last night since the U.S. attack on Iranian nuclear facilities.

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