U.S. Gasoline Average Climbs to $4.534 as Crude Holds Near $100
Updated
Updated · gasprices.aaa.com · May 14
U.S. Gasoline Average Climbs to $4.534 as Crude Holds Near $100
2 articles · Updated · gasprices.aaa.com · May 14
$4.534 a gallon became the U.S. national average on May 14, reversing five straight days of declines and leaving prices near 2022 record-high territory.
WTI settled at $101.02 a barrel, and EIA data showed U.S. crude inventories fell 4.3 million barrels last week, helping keep pump prices elevated despite softer gasoline demand.
8.75 million barrels a day of gasoline demand was down from 8.81 million, while domestic gasoline supply dropped to 215.7 million barrels from 219.8 million and production rose to 9.8 million bpd.
Memorial Day travelers are set to face the highest holiday gas prices in four years, with California the priciest major market at $6.14 a gallon and Mississippi the cheapest at $3.99.
Public EV charging held flat at a national average of 41 cents per kilowatt-hour, underscoring that energy costs remain broadly elevated beyond gasoline.
Why are Americans planning record-breaking road trips despite facing the highest Memorial Day gas prices in four years?
With the largest oil shock in history underway, can record U.S. production protect American drivers from global prices?
Could the current oil crisis actually slow the electric vehicle transition by disrupting battery supply chains?