Low fuel prices here to stay, according to AAA report

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A report from the American Automobile Association on September 8, the average gas price nationally between Memorial Day and Labor Day was $2.15 per gallon. That’s the lowest it has been during the unofficial summer months since 2004, and it’s well below the 2018 and 2019 averages of between $2.60 and $2.85. Decreased fuel prices are directly tied to the dramatic reduction in demand from this spring and summer as COVID-19 continues to depress the economy. Demand for fuel dropped from 9.16 million barrels per day to 8.79 barrels per day. The overall supply of gasoline is more than 5.2…

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