A global crude oil price war and lower demand has caused the national average price for a gallon of gasoline to drop below $2 for the first time in four years, according to AAA.
The average price for regular unleaded gasoline in Indiana is nearly 50 cents less than a month ago, according to AAA.
Falling prices for crude oil driven by fears from the global COVID-19 outbreak has led to sharp declines in gasoline prices.
Increased gasoline supplies and motorists driving less are the main factors dropping fuel prices around the country.
A glut of gasoline and motorists driving less are contributing factors to lower gasoline prices, according to AAA.
Mild weather during the holiday season in the Midwest and other parts of the country fueled a spike in motorist travel, which drove up the price of retail gasoline around the country AAA reported.
Higher oil prices are to blame for rising gasoline costs, according to AAA. AAA said the national gas price average for the week of Oct. 8 was $2.91, up 3 cents from last week and six cents more per gallon than a month ago. “The September switch-over to winter-blend gasoline ushered in cheaper gas prices […]
As expected just before a holiday weekend and the last long weekend of summer, motorists hoping to get in an end-of-summer road trip should expect to see higher gasoline prices. For the week of Aug. 27, AAA reported the national average price for regular unleaded gasoline held steady at $2.84, down two cents from a […]
The national gas price average is $2.95, down by two cents for the week beginning June 4, AAA reports. This is the first time there has been a decrease in the national average since mid-March, AAA said. The drop follows the latest Energy Information Administration report showing consistently strong demand. “Nearly 80 percent of Americans […]