-
Gas prices are 30% higher than last year, but fuel demand is cratering to pandemic levels of 2 years ago
From markets.businessinsider.com
US gas prices declined to $4.113 Friday, down from $4.800 a month ago. But prices remain 28.9% higher than last year, according to AAA data. Expensive pump prices in addition to soaring inflation has put pressure on Americans, and demand has shown signs of waning even through the typically-high demand summer driving season. Data from the Energy Information Administration revealed that gas demand dropped from 9.25 million barrels per day to 8.54 million barrels per day last week. That's on par with demand levels at the end of July 2020 when the COVID-19 pandemic kept drivers off the road. chart The EIA also noted ... (full story)
- Comments
- Subscribe
-
- Older Stories
-
From rystadenergy.com|Aug 5, 2022The UK awarded 11 gigawatts (GW) of new renewable energy projects in its latest contract for difference (CfD) round 4 auction. Offshore wind emerged as the biggest winner with ...
-
From eia.gov|Aug 5, 2022After reaching multiyear highs in March, propane spot prices at the Mont Belvieu distribution hub in Texas have steadily declined. Propane prices reached $1.64 per gallon (gal) ...
-
From fxempire.com|Aug 5, 2022Natural gas markets have fallen a bit during the trading session on Friday but then turned around to show signs of life near the $8.00 level. This obviously is a large, round, ...
-
- Newer Stories
-
From financebrokerage.com|Aug 5, 2022The oil price retested $92.00 yesterday, after which we saw the price drop to the $88.00 level. During the Asian trading session, the price of oil recovered to the $89.40 level. ...
-
From miningweekly.com|Aug 5, 2022Zinc neared a one-month high while other metals came under pressure in London, with top producer Glencore warning that Europe’s energy crisis poses a substantial threat to supply. ...
- Story Stats
- Posted: Aug 5, 2022 3:35pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 101
