Summer gasoline demand is down, despite lower prices

Jun 20, 2024
With more efficient vehicles and fewer commuters, less gas is being consumed. But prices are still high for other aspects of summer travel.
Vehicles have generally become more energy-efficient, and there are fewer commuters on the road. Those factors may be keeping a lid on gasoline prices as travel season ramps up.
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OPEC+ will extend supply cuts — but that doesn't appear to be raising prices

Jun 4, 2024
The petroleum-producing cartel is trying to push global oil prices higher, but Americans aren't seeing an increase at the gas pump.
Gas prices in the U.S. have actually fallen 13 cents in the past month, according to AAA.
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What goes into OPEC's decision-making?

May 31, 2024
The cartel wants to manipulate production to push up prices and demand.
“Price is always in the background as part of the discussion,” says Mark Finley at Rice University’s Baker Institute.
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The U.S. exports more petroleum than it imports. So why are we importing at all?

May 13, 2024
It's largely about the chemistry of the oil and the mechanics of the refineries. In many cases, importing foreign crude is cheaper.
An oil pumpjack in Texas. Importing foreign crude oil is often cheaper for the United States.
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The higher price of oil is helping tank the price of natural gas

Apr 11, 2024
Stay with us here — think about chicken parts. Higher demand for white breast meat means an excess of chicken legs.
Crude oil is easier to get out of the isolated Permian Basin than natural gas, which needs pipelines to reach customers, says Ed Hirs with the University of Houston.
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Gas prices inch down as outlook appears stable

Jan 8, 2024
Gas is close to the $3 per gallon mark and has broken that in parts of the South.
In some parts of the South, gas prices are already below $3 a gallon. Above, a Chevron gas station in Austin, Texas.
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Why gas prices are trending downward

Dec 14, 2023
Several factors are keeping prices at the pump low — including the greater number of EVs and hybrids on the road.
Gas inflation is down nearly 9% year-over-year. 
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For public good, not for profit.

OPEC+ members say they'll cut oil production. Global markets don't seem to believe them.

Nov 30, 2023
Production cuts may no longer be as effective at propping up prices because electric vehicles are cutting into global demand.
OPEC+ members are promising a pullback of as much as 2 million barrels a day, at least half of that from the Saudis.
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Why are oil prices suddenly dropping?

Oct 6, 2023
Since the end of September, Brent Crude has been sliding — down to the $84-a-barrel range, more than a 10% decline in just over a week. This is also playing out at the pump, with gas down about eight cents a gallon in the last week.
Along with oil prices, the average price of gas in the U.S. has fallen in the last week. Above, a gas station in Los Angeles, California.
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High oil prices may hurt poorest Americans most

Sep 27, 2023
Tight global supply raises costs for industry and motorists, but for now, the pain is milder than it was during price spikes decades earlier.
Gasoline prices in Burbank, California, last week.
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