Though prices of gasoline have been on the decline, there may be some threats posed to that soon, according to a recent report from AAA.
Prices for gasoline are still on a decline, but it has slowed, falling by just two cents since last week. Upcoming holiday travel, as well as a storm system developing in the Atlantic, are cited as potential causes for this trend. In contrast, the national average for L2 commercial electricity saw no change.
The Energy Information Administration released new data showing that gas demand increased from 9 million barrels a day to 9.30, with total domestic gasoline stocks falling from 220.2 to 218.4 million barrels, alongside a decrease in gasoline production.
In the oil market, West Texas Intermediate fell by $1.01 to $74.52 a barrel as of this past Wednesday.
According to EIA, crude oil inventories have seen a 0.8 million barrel decrease from last week, and are around 4% below the five-year average for this time of year.
