U.S. motorists win in weak oil market

10 May 2017   Prices, USA

Low consumer demand and low crude oil prices means lower gasoline prices in the United States. File Photo by hxdbzxy/Shutterstock May 9 (UPI) — Low consumer demand and even lower crude oil prices means U.S. drivers are paying less at the fueling station than they were last month, market analyses found. Motor club AAA reported a national average retail price for a gallon of regular unleaded gasoline at $2.34, down about 1 cent from Monday, 4 cents from last week and 5 cents from one month ago. Last week, all but four states saw a decline in retail gasoline prices, bucking a seasonal trend. “The trending decline is due to an unseasonable glut of gasoline in the U.S. market, record high refinery production rates, moderate demand and a recent drop in crude oil prices,” AAA stated in its weekly market report . Retail gasoline prices usually start climbing toward […]

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