US national gas price average increased 3 cents to US$3.54 in week ended Jul. 11, and was 10 cents higher month-over-month; gas demand decreased from 9.42 to 9.39 million b/d, total domestic gasoline stocks fell to 229.7 million bbl: AAA

July 11, 2024 (press release) –

The national average for a gallon of gas rose three cents to $3.54 from last week. The slight nudge higher came despite Hurricane Beryl smacking into the coast of Texas, a record number of July 4th car travelers, and oil costs hovering above $80 per barrel.  

“The damage from Beryl caused limited damage to Gulf Coast energy facilities,” said Andrew Gross, AAA spokesperson. “And while a record 60 million travelers were forecast to hit the highways for the July 4th holiday, the overall demand number for gasoline dropped. That is a rare feat for a holiday week and may point to a change in demand trends.” 

For the complete report, including the latest EIA data and oil market dynamics, please visit: https://gasprices.aaa.com/despite-a-hurricane-and-record-holiday-travel-gas-prices-barely-budge/

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