Fuel Tracker

There’s good news and there’s bad news from the U.S. Energy Information Administration. The bad news is that crude oil prices, despite increased reserves, remain very high due to an inability of refineries to process as much crude as usual. The good news is that those increased inventories, in a time when gasoline demand is usually at its peak, will help to keep costs down once refineries resume full production and cold weather sets in. Here is a price trend for retail gasoline per gallon since April, the national average retail gasoline price per gallon and crude oil spot prices per barrel as reported by West Texas Intermediate. The U.S. average price of gasoline as of Aug. 22 was $2.61, up 6 cents from a week ago. The average price per gallon of crude oil as of Aug. 19 was $65.51, down $1.20 from a week ago.

Source: U.S. Energy Information Administration