Aaa says national gas price average is cheaper than one year ago for first time in 18 months – clarksville, tn online gas in oil car

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With a 15-cent weekly decrease, Ohio ($2.13) has the largest drop in the region and the country on the week. Motorists in Kansas (-13 cents), Kentucky (-13 cent), Nebraska (-13 cents), Missouri (-13 cents), Illinois (-12 cents), Michigan (-12 cents), Indiana (-12 cents), Iowa (-11 cents), South Dakota (-11 cents), Wisconsin (-10 cents) and North Dakota (-10 cents) all saw double-digit price drops at the pump to kick-off the week.

Month-over-month, motorists are seeing the largest savings – up to 30 cents or more/gallon: Oklahoma (-39 cents), Georgia (-37 cents), Arkansas (-36 cents), Texas (-35 cents), Alabama (-35 cents), Mississippi (-35 cents), Louisiana (-34 cents), South Carolina (-34 cents), Florida (-31 cents) and New Mexico (-29 cents). To boot, every state in the region has at least a few stations selling regular unleaded for $2.00/gallon or less.

On the week, stocks drew by nearly 950,000 bbl pushing total levels to 82.8 million bbl. npower electricity supplier number The draw could likely be attributed to a high number of exports since regional refinery utilization jumped to 97 percent, according to EIA data. With utilization up, stocks are likely to build in the coming week and keep pump prices low. electricity and magnetism purcell Mid-Atlantic and Northeast

Hawaii ($3.64) is the nation’s most expensive market, followed by California ($3.53), Washington ($3.30), Alaska ($3.22), Nevada ($3.15), Oregon ($3.12), and Arizona ($2.80). r gas constant chemistry While expensive, they are getting cheaper with all state averages being lower on the week: Hawaii (-11 cents), California (-8 cents) and Washington (-6 cents) saw the largest drops.

The EIA’s weekly petroleum status report for the week ending on November 23rd, showed West Coast gasoline stocks increased by approximately 100,000 bbl to 27 million bbl. Stocks are approximately 1.8 million bbl lower than at this time last year, which could cause prices to spike if there is a supply challenge in the region this week. Oil Market Dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI dropped to settle at $50.93. types of electricity pdf Crude prices continued to fall last week, reaching their lowest point since October 2017. The drop in price has many market observers speculating that at this week’s OPEC meeting on December 6th in Vienna, Austria, the cartel, alongside Russia, will announce a reduction in crude production, aimed at raising the global price of crude.

The exact impact on global prices will be determined by how severe the production cut is and how long the reduction agreement will be held in place. In related news, this morning, Qatar announced it would withdraw from OPEC to develop and increase its natural gas production. The withdrawal will likely not have a huge impact on production as Qatar accounts for just under two percent of OPEC total output.

In the U.S., total domestic crude inventories continue to climb. save electricity images In the latest weekly petroleum status report from the EIA, crude inventories grew to 450.5 million bbl. This is strong for the year, even though it is approximately 3.7 million bbl lower than last year’s level at this time. If this week’s EIA report shows another crude inventory build, the news will likely help crude prices remain low.