WASHINGTON, D.C. (April 18, 2024)—Lackluster domestic demand for gasoline paired with decreasing oil prices led to the national average for a gallon of gas climbing just four cents to $3.67 since last week. With tensions running high over the past three weeks in the Middle East, the cost of oil reached the upper $80s per barrel. However, it has since fallen several dollars into the low $80s as the oil market watches to see if any further military actions occur.
“The situation overseas with war in both the Middle East and Ukraine has the oil market on edge,” said Andrew Gross, AAA spokesperson. “But this is also the time of year we may see a bit of a lull in gasoline demand between the end of spring breaks and ahead of Memorial Day. So, the national average for gas may waffle a bit with small increases, some flat days, and even some price dips.”
For the complete report, including the latest EIA data and oil market dynamics, please visit: https://gasprices.aaa.com/is-the-recent-climb-in-the-price-of-gas-about-to-stall/