AAA Archives - The Minnesota Sun

Gas Prices Rise for First Time Since June

September 22, 2022September 21, 2022 Minnesota Sun Staff

Following nearly 100 days of declines, gas prices rose slightly Wednesday, and are forecasted to change little in the near future.

The national average price rose by about a cent to $3.68, snapping a 98-day streak of declines since prices peaked at $5.02 in mid-June, according to data from the American Automobile Association (AAA). A slight increase was expected to occur soon after prices fell only four cents last week, the smallest decrease in months, which the AAA attributed to the impacts of “war, COVID, economic recession, and hurricane season,” in a statement Monday.

Gas Prices Continue Decline, Still Much Higher than Last Year

September 7, 2022September 6, 2022 The Center Square

Gas prices have continued a steady decline in recent weeks, coming down from record-high gas prices this summer, but the Congressional Budget Office says natural gas prices may see an increase from the recently passed Inflation Reduction Act.

According to AAA, the current national average price for a gallon of regular gasoline is $3.78, down from $4.08 a month ago and down significantly from earlier this summer when prices surpassed $5 per gallon. Prices have dropped about a nickel in the past week.

National Gas Price Average Hits $5 per Gallon

June 10, 2022June 9, 2022 Peter D'Abrosca

The average price for a gallon of gas nationwide has reached the the $5 threshold, according to Thursday reports.

“According to GasBuddy, the national average has reached $5 per gallon,” said GasBuddy’s Patrick De Haan.

Gas Prices Hit New High for Second Day in a Row

June 1, 2022May 31, 2022 The Center Square

Gas prices hit another record high Tuesday, the latest in more than a dozen record high days this month.

Gas prices had hit record highs every day for two weeks during May before dipping down slightly. Now, with two consecutive record days, another run of record highs may be on the way.

Gas Prices Hit Record High Every Day for Past Two Weeks

May 25, 2022May 24, 2022 The Center Square

Gas prices have soared to new heights this month with the price of unleaded regular gas hitting a record high every day for the past two weeks. With Memorial Day weekend approaching, motorists face steep costs if they plan to travel.

According to AAA, the national average regular unleaded gas price Tuesday came in at $4.60, a record high. Diesel gasoline is at $5.55 per gallon, just below the record set last week.

Consumer Prices Rise 8.5 Percent, the Highest in 40 Years

April 13, 2022April 12, 2022 The Center Square

Newly released federal inflation data show that prices continue to rise at the fastest rate in four decades, continuing the trend of soaring inflation.

The Bureau of Labor Statistics released its Consumer Price Index, a key indicator of inflation, which showed prices rose an additional 1.2% in March, part of an 8.5 percent spike in the past 12 months.

Gas Prices Set to Surge Again, Industry Analysis Shows

December 30, 2021 Admin

The price of gasoline is set to increase to $4 per gallon or more within five months, according to an industry analysis released Tuesday.

The gas price surge is forecasted to take place by Memorial Day in late May, according to the report from GasBuddy, an app that tracks pump prices, and shared with CNN. But the analysis said the average cost of gasoline at pumps nationwide would then fall throughout the summer and fall of 2022, declining below current prices.

“We could see a national average that flirts with, or in a worst-case scenario, potentially exceeds $4 a gallon,” Patrick De Haan, the director of petroleum analysis at GasBuddy, told CNN.

Oil Prices Hit a Seven-Year High as Industry Feud with Biden Administration Continues

October 7, 2021October 7, 2021 The Center Square

Oil prices hit a 7-year high this week as American oil and gas companies continue to fight the Biden administration over policies restricting production.

As the economy began to reopen this year and the demand for fuel increased, President Joe Biden, through executive order, halted and restricted oil and gas leases on federal lands, stopped construction of the Keystone Pipeline, and redirected U.S. policy to import more oil from Organization of the Petroleum Exporting Countries and Russia (OPEC+) instead of bolstering American oil and gas exploration and production.

Plummeting Oil Prices Are Not Reflected in California’s Price at the Pump

March 30, 2020March 29, 2020 Minnesota Sun Staff

Gas prices are falling all over the country as oil prices tumble, yet prices are still relatively high in California, where environmental polices are restricting how oil refineries can produce gasoline.

The price of a gallon of gas has plummeted in Ohio to around $1 in part because Americans are self-isolating to avoid spreading the novel coronavirus. The average price dropped 35.1 cents over the past month, according to data from the AAA and Oil Price Information Service.

A BP station in Kentucky, for instance, posted a price below $1 a gallon, The Washington Post reported Thursday. Four other stations in Oklahoma City followed suit, along with another in Paris, Tennessee. The national average for gas on Thursday was $2.03, down from $2.41 at the beginning of March.