Gasoline prices were (per AAA) were down 2.7¢ this week, to $3.418. A year ago, the price was $3.498. There were intermittent problems with refineries in different regions, that may have impacted current pump prices.
The 17 day streak of falling prices, ended today. Maybe another streak downward will soon start.
The seasonal consumption is edging up. (This is a four week moving average). It is -0.9% below one year ago levels.
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If you are really into this type of thing... the import/export surplus of gasoline since last March 1st 2022, stands at +90.1M barrels. If you saw last week's report, that is up 1.3M barrels. This is a global market, so the global economy, as well as refinery output, is key to where pump prices will be.
Where will pump prices be next week? My inclination would be slightly lower, but that might be wishful thinking.
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