Posts filtered on Category
Americans under 35 are almost twice as likely as those above that age to report driving more because of the $1-a-gallon drop in prices at the pump over the past year.
With fuel costs plummeting alongside the collapse in crude oil, more Americans feel they’re getting a fair price at the gasoline pump now than at any time since late 2011.
Rebounding crude prices have caused gasoline prices to tick up again, but fuel still remains at its cheapest seasonal level in six years.
Low oil prices could help shore up some states’ coffers, since increased driving brought on by cheap fuel will also result in more gas tax revenue.
Oil companies may be taking a beating amid a global crude collapse, but U.S. drivers are saving big on gasoline, pocketing enough cash at the pump this year to buy a robot vacuum, a cheap refrigerator or the latest iPad.
Refiners are enjoying the best margins in two years as they finish seasonal maintenance of their plants before the summer driving season.
The average price for gasoline in March was $2.43 per gallon, the cheapest for the month in six years.
The 33 percent slide at U.S. pumps, combined with an improving job market, touched off a national spending spree on sport utility vehicles, vacations and Christmas presents.