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U.S. Fuel Prices Drop as Gasoline Supplies Rise
The average retail price of a gallon of gasoline in the U.S. has dropped 18 cents to $2.24 in the past month as fuel inventories continue to climb, AAA reports.
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The average retail price of a gallon of gasoline in the U.S. has dropped 18 cents to $2.24 in the past month as fuel inventories continue to climb, AAA reports.
U.S. gasoline supplies rose by 8.1 million barrels to 248 million barrels last week, according to the Energy Information Administration. Inventories are nearly 11 million barrels greater than they were at this time a year ago.
Lower demand for gasoline so far this winter has contributed to the fuel glut, according to AAA. It says prices averaged $2.51 per gallon at this time a year ago.
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