Mexican Media Brands
Fuel Prices Poised to Plunge in U.S.
Gasoline prices in the U.S., which have been sliding for a week, could drop another 16 cents per gallon this week, Bloomberg News reports.
#economics
Share
Gasoline prices in the U.S., which have been sliding for a week, could drop another 16 cents per gallon this week, Bloomberg News says.
The national average price of regular grade gasoline is at $2.75 per gallon, down from $2.81 a week earlier and $2.92 a year ago, according insurance giant AAA. GasBuddy.com predicts prices could drop to $2.60 by the end of this week.
Current prices differ dramatically from state to state. AAA says averages on Monday ranged from a low of $2.33 per gallon in Mississippi to a high of $3.88 per gallon in California.
The decline is being driven by another slump in crude oil prices, which account for about 60% of the price of refined gasoline.
The price of the U.S. benchmark for crude oil (West Texas Intermediate) skidded from more than $66 per barrel in late-April to less than $54 at the end of last week. The international standard (Brent Crude) fell from about $74 to $62 over the same period.
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.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.