Gasoline prices were (per AAA) were down 2.9¢ this week, to $3.393. A year ago, the price was $3.535.
The streak for lower prices is now in its seventh day. Hate to jinx this, but it is possible, the average price could make it to $3.25 over the next couple of weeks.
The seasonal consumption is edging up. (This is a four week moving average). It is +2.2% above one year ago levels. However, the national average is -4.0% below same period.
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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 +92.1M barrels. If you saw last week's report, that is up another 2.0M 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 a continuation of ever so slight decreases.
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