Mexican Media Brands
U.S. Fuel Prices Continue to Slide
The average price of gasoline in the U.S. begins this week at $2.70 per gallon, down 6 cents over the past week and 21 cents from a month ago, according to motor club group AAA.
#economics
Share
The average price of gasoline in the U.S. begins this week at $2.70 per gallon, down 6 cents over the past week and 21 cents from a month ago, according to motor club group AAA.
Prices have been falling since early October, although the average is still 14 cents above fuel prices a year ago. U.S. gasoline prices reached an all-time average high of $4.11 per gallon in Jul 2008.
AAA attributes the current decline to the end of the summer refinery maintenance season. The association says further declines are like as production revs up again.
The group also notes that the price of crude oil is dropping. of West Texas Intermediate oil, the U.S. benchmark, closed last week at $60.19 per barrel, down 48 cents. The decline comes as U.S. oil production climbed to a record 11.6 million barrels per day last week.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
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.