US national gas price average decreased 6 cents to US$3.30 in week ended Sep. 5, and was 17 cents lower month-over-month; gas demand decreased from 9.30 to 8.93 million b/d, total domestic gasoline stocks rose to 219.2 million bbl: AAA

WASHINGTON , September 6, 2024 (press release) –

After idling over the Labor Day weekend, the national average for a gallon of gas resumed its pace of daily declines by falling six cents since last week to $3.30. Key contributors are low gas demand and the plunging cost of oil, which is struggling to stay above $70 a barrel. The national average cost for L2 commercial electricity remained the same for EV drivers.

“There are now ten states with gasoline averages below $3 a gallon, which means thousands of retail outlets east of the Rockies are selling gas at similarly low prices,”  said Andrew Gross, AAA spokesperson. “With hurricane season remaining weak and disorganized, this trend of falling pump prices will likely continue.”

For the complete report, including the latest EIA data, gas and electric price trends, and oil market dynamics, please visit https://gasprices.aaa.com/a-sixth-sense-about-six-cents-i-see-dea-i-mean-falling-gas-prices/

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.