US national gas price average remained unchanged at US$3.27 in week ended Feb. 22 and was up 20 cents month-over-month; gas demand remained mostly flat at 8.2 million b/d, total domestic gasoline stocks declined slightly by 300,000 bbl: AAA

WASHINGTON , February 23, 2024 (press release) –

After suddenly spiking more than a dime two weeks ago, the national average for a gallon of gas had a calm week by remaining at $3.27.  News that the large BP-Whiting refinery in Indiana, offline since early February due to power issues, is reopening soon may have contributed to easing pump price nerves. The refinery processes nearly 440,000 barrels of crude daily, and the shutdown caused gasoline prices throughout the Midwest to rise.

“Old man winter is shuffling toward the exit, and with milder weather and longer days looming, the seasonal rise in gas prices is primed to begin,” said Andrew Gross, AAA spokesperson. “But it will probably be a slow, wobbly start to rising prices.”

For the complete report, including the latest EIA data and oil market dynamics, please visit https://gasprices.aaa.com/gas-prices-make-a-pit-stop/

* 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.