U.S. Gasoline Prices Settle At Expected Average
October 21, 2013 by UPI - United Press International, Inc.
WASHINGTON (UPI) — The average price for a gallon of regular unleaded gasoline in the United States held steady Monday near an expected seasonal average of $3.34, AAA reported.
AAA reports State averages fluctuating from a high near $3.80 in the continental United States to a low of $3.05 in Missouri. No part of the country reported gasoline prices less than $3 per gallon.
AAA said gasoline prices snapped a 36-day streak of declines last week, ending the longest run since 2008. AAA said it didn’t see much volatility in energy markets during the partial Federal government shutdown in early October because traders assumed, correctly, a deal would be reached.
The American Petroleum Institute said last week gasoline demand in the United States rose 1.2 percent in the third quarter compared with the same time last year to 8.7 million barrels per day on average. API attributed the increase in demand to a strengthening U.S. economy.
The Energy Information Administration, the analytical division of the U.S. Energy Department, said $3.34 per gallon should be the national average for the rest of the year.