By AAA
The national average for a gallon of gas rose three cents to $3.54 from the second week of July, an encouraging sign for those whose personal or professional lives depend on road travel. The slight nudge higher came despite Hurricane Beryl smacking into the coast of Texas, a record number of July 4th car travelers, and oil costs hovering above $80 per barrel.
“The damage from Beryl caused limited damage to Gulf Coast energy facilities,” said Andrew Gross, AAA spokesperson. “And while a record 60 million travelers were forecast to hit the highways for the July 4th holiday, the overall demand number for gasoline dropped. That is a rare feat for a holiday week and may point to a change in demand trends.”
According to new data from the Energy Information Administration (EIA), gas demand dipped from 9.42 million b/d to 9.39 last week. Meanwhile, total domestic gasoline stocks fell from 231.7 to 229.7 million barrels, while gasoline production increased last week, averaging 10.3 million barrels daily. Tepid gasoline demand and waffling oil costs may lead to some short-term stability in pump prices.
At press time, the national average was $3.54, 10 cents more than a month ago and the same as a year ago.
Decreasing gas prices and interest rates are often evaluated to determine consumers’ interest in purchasing RVs and boats for outdoor entertainment. Dipping numbers encourage RV and boat sales, which dictates a growing need for professionally operated storage facilities to house the oversized toys.
Research has indicated that the nation’s supply of secure storage spaces, maintained by professional storage facilities, falls five times short of demand. The data dictates an explosive need for RV and boat storage development, giving entrepreneurs and investors a golden opportunity.
Quick Stats
The nation’s top 10 most expensive markets are California ($4.78), Hawaii ($4.69), Washington ($4.28), Nevada ($4.04), Oregon ($4.02), Illinois ($3.89), Alaska ($3.87), Washington DC ($3.71), Pennsylvania ($3.69), and New York ($3.63).
The nation’s top 10 least expensive markets are Mississippi ($3.09), Arkansas ($3.07), Louisiana ($3.11), Tennessee ($3.13), Oklahoma ($3.15), Kansas ($3.16), Texas ($3.17), Missouri ($3.17), Alabama ($3.20), and Nebraska ($3.26).
Drivers can find current gas prices along their route using the AAA TripTik Travel planner.
