WASHINGTON, D.C. (August 1, 2024)—The national average for a gallon of gas dipped four cents since last week to $3.48. The drop comes as a tropical wave with storm-forming potential is slowly approaching the Caribbean Sea. Should it enter the Gulf of Mexico, expect oil prices to move higher.
“The oil market is volatile, and the threat of a hurricane impacting production and refining will certainly grab its attention,” said Andrew Gross, AAA spokesperson. “Add in the rising tensions in the Middle East, and oil prices are poised to push higher.”
Meanwhile, AAA is rolling out a new feature today, with much more to come. With an estimated 1.2 million AAA members living in a household with one or more electric vehicles, AAA is adding the kilowatt-per-hour cost for Level 2 (L2) commercial charging by state. AAA members are 28% more likely than the US adult population overall to have an electric vehicle.
For the complete report, including the latest EIA data, gas and electric price trends, and oil market dynamics, please visit: https://gasprices.aaa.com/gas-prices-tumble-as-a-storm-looms-and-aaa-adds-ev-charging-data/