One Week Ago 2.292
One Month Ago 2.350
One Year Ago 3.199
Source: GasBuddy.com, 5:55 p.m. EDT
Here in Arizona, the average price for regular unleaded gasoline is $2.26, although some service stations in the Phoenix metropolitan area are reporting prices as low as $1.88 per gallon.
While prices are expected to continue to decline thru the end of the calendar year, today’s Fuel Gauge Report [Ref 1] from AAA states that the refinery maintenance season is nearing its peak. While national prices have been steady, pump prices in some regions have moved dramatically over this same period, largely due to fluctuations in supply and demand. Averages in the Midwest remain under pressure due to a growing list of both planned and unplanned maintenance for refineries located in the region.
Another development to watch is last Friday’s passage of a bill to repeal the oil export ban by the U.S. House of Representatives [Ref 2]. The bill has been sent to the U.S. Senate where its prospects are less certain. It is noted that a general ban on oil exports was imposed in 1975 amid the Arab oil embargo.
Until our next gas price check, happy motoring.
- Refinery Maintenance Sends Fuel Gas Prices Higher, AAA Fuel Gauge Report, October 12, 2015, http://fuelgaugereport.aaa.com/refinery-maintenance-sends-gas-prices-higher/
- The Top 9 Stories You Need To Know About Today In O&G, October 12, 2015, http://oilpro.com/post/19259/top-9-stories-you-need-to-know-today-og?utm_source=DailyNewsletter&utm_medium=email&utm_campaign=newsletter&utm_term=2015-10-12&utm_content=Article_7_txt