AAA reported Sunday (Aug. 18) that the national gas price average is $2.64, representing a 7-cent drop on the week as domestic gasoline stocks grew by a surprising 4.4 million bbl, according to the Energy Information Administration’s (EIA) latest data.
“On the week, nearly half of all states saw gas price averages decrease by at least a nickel,” said Jeanette Casselano, AAA spokesperson.
“While gasoline demand increased week-over-week, it wasn’t enough to stay on pace with the huge jump in gasoline stocks. Therefore, pump prices continue to decline across the country,” Casselano stated.
Today’s national gas price average is 13 cents less than a month ago and 21 cents cheaper than a year ago.