US national gas price average increased 2 cents to US$3.67 in week ended May 2, and was 14 cents higher month-over-month; gas demand increased slightly from 8.42 to 8.62 million b/d, total domestic gasoline stocks increased by 0.4 million bbl: AAA

WASHINGTON , May 2, 2024 (press release) –

The national average for a gallon of gas waffled up and down over the past week before settling higher by two cents at $3.67.  The slight increase in pump prices happened despite a lull in domestic gasoline demand and falling oil prices.

“From a demand perspective, we have entered the pre-Memorial Day funk,” said Andrew Gross, AAA spokesperson. “And the cost of a barrel of oil is nearly $10 less than two weeks ago, as oil prices have fallen into the upper $70s. This may keep pump prices somewhat flat for the immediate future.”

For the complete report, including the latest EIA data and oil market dynamics, please visit: https://gasprices.aaa.com/when-it-comes-to-gas-prices-may-starts-off-meh/

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