Mexican Media Brands
Fuel Prices Fell to 7-Month Low in September
Average gasoline prices in the U.S. dropped to $2.34 per gallon in September, their lowest since February, according to the AAA Daily Fuel Gauge Report.
#economics
Share
Average gasoline prices in the U.S. dropped to $2.34 per gallon in September, their lowest since February, according to the AAA Daily Fuel Gauge Report.
The average in August was $2.46. Prices a year ago today were at $3.33 per gallon. AAA predicts the national average will flirt with a six-year low of $2 before the end of 2015.
The low fuel prices reflect continued high output of petroleum, which has slashed oil prices about 50%, and weaker import demand by China. Service stations in the northern half of the U.S. also have switched to less expensive winter blends made feasible by lower ambient temperatures.
AAA notes Americans drove a record 1.82 trillion miles in January-July, surpassing the previous record of 1.77 trillion miles set in the first seven months of 2007.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.