Putting cows on the front page since 1885.
Putting cows on the front page since 1885.
The national average price for a gallon of gas increased eight cents on the week to reach $3.27. This is the highest price since October 2014.
According to new EIA data, total domestic gasoline stocks increased by 3.3 million barrels to 225.1 million barrels last week. Gasoline demand also increased slightly from 9.40 million barrels per day to 9.44 million barrels per day. This increase in gas demand aided in the national average’s rise.
Meanwhile, an Oct. 1 breach and spill in a key pipeline supplying fuel to parts of the southeastern U.S. led to tightened regional supplies. Kinder Morgan Inc. (KMI) originally said it expected repairs to its southeastern products pipeline to be completed October 9, with a restart afterward. The repairs were slowed by the recent heavy rain and flooding around Birmingham, Alabama. The pipeline serves various metropolitan areas including Birmingham, Alabama; Atlanta, Georgia; Charlotte, North Carolina; and Washington, D.C.
Today’s national average of $3.27 is 10 cents more than a month ago, $1.09 more than a year ago, and 63 cents more than pre-pandemic in 2019.
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