John Townsend
Public Relations Manager, DC
O: (202) 481-6820 (ext. 4462108)
C: (202) 253-2171
jtownsend@aaamidatlantic.com

The Week

The national average for a gallon of regular unleaded gasoline has reached $2 for the first time since the end of March. Gas prices across the country have seen dramatic decreases as a result of a sharp drop in both the demand for gasoline and the price of crude oil. As many states have started to reopen and Americans head back out on the road, gas prices have started to increase.

 

“Traffic around the United States continues to climb back toward levels seen before the start of the coronavirus disease 2019 (COVID-19) pandemic, but still lags behind what would normally be seen at the start of the busy summer driving season,” according an analysis of the latest data from INRIX by OPIS.

 

“Personal travel during the week ending May 29 was only 16% off where it had been in February, prior to states taking efforts to contain the pandemic. That compares to the 19% off pre-pandemic levels that was seen a week earlier,” explains OPIS (Oil Price Information Service), which provides daily fuel price data to AAA.

Today’s national gas price average is $2, up three cents in the last week, up 22 cents in the last month and down 79 cents from this time last year. “While the travel data shows the impact of the recent easing of stay-at-home orders, INRIX warns the weekly data doesn’t paint a clear picture of the virus' ongoing impact on travel since the comparison is not seasonally adjusted.”

 

CURRENT AND PAST GAS PRICE AVERAGES

Regular Unleaded Gasoline (*indicates record high)

 

 

 

Today

 

Week Ago

 

Year Ago

 

National

 

$2.00

 

$1.97

 

$2.79

 

Washington, D.C.

 

$2.12

 

$2.14

 

$2.87

 

D.C. Metro

 

$2.01

 

$2.01

 

$2.72

 

Crude Oil

 

$39.55

per barrel

(6/5/20)

 

$35.49

per barrel

(5/29/20)

 

$53.99

per barrel

(6/7/19)

 

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $39.55 per barrel, $4.06 higher than last Friday’s close. The price of crude has increased each day this week but concerns still linger over whether the Organization of Petroleum Exporting Countries (OPEC+) will be able to agree on an extension of production cuts. The group is expected to meet soon to discuss the cuts. The Energy Information Administration (EIA) reported this week that crude oil inventory decreased last week but analysts feel that the amount of crude still remaining in storage will keep up with the increasing demand.

The Weekend

Personal travel last week also increased in 88 of the 98 metropolitan areas INRIX tracks, including the Washington metro area. Americans are slowly but steadily returning to the road, causing gas prices to increase across the country,” said John B. Townsend II, manager of Public and Government Affairs for AAA Mid-Atlantic. “As our region continues to reopen and pump prices increase, drivers are still filling up at about 75 cents per gallon less than this time last year.”

 

The Week Ahead

While AAA does not expect gas prices to reach the same levels as one year ago, unforeseen events, like a hurricane, can cause an increase. Tropical Depression Cristobal is expected to enter the Gulf of Mexico Friday night and head toward the northern Gulf Coast, making landfall as a tropical storm by Sunday. Should it strengthen to hurricane status before making landfall, it could pose a threat to the Gulf Coast region’s oil refineries.

 

AAA has a variety of resources to help motorists save on fuel:

Next Weekend Gas Watch: Friday, June 12, 2020

 

Follow us on Twitter: @AAADCNews

Like us on Facebook: AAA Mid-Atlantic News

 

Washington, D.C. Mailing Address:
1405 G Street NW
Washington, DC 20005

AAA provides automotive, travel and insurance services to 60 million members nationwide and nearly 82,000 members in the District of Columbia.  AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years.  The not-for-profit, fully tax-paying member organization works on behalf of motorists, who can now map a route, find local gas prices, discover discounts, book a hotel and track their roadside assistance service with the AAA Mobile app for iPhone, iPad and Android. For more information, visit  http://aaa.com

TEDx Wilmington Salon

Who's in the Driver's Seat? The Transformation of Transportation

On Tuesday, October 17, 2017, AAA and TEDx Wilmington held the first TEDx Salon dedicated to ideas worth spreading in transportation.

This event had:

  • 12 live talks given by 13 speakers
  • 368 people in attendance at the live event
  • More than 7,500 viewed the event online through Livestream, viewing events, and on the AAA Associate network
  • Online viewers came from all 50 states and approximately 30 countries around the world

View a slideshow from the event

This TEDx WilmingtonSalon was organized in partnership with AAA

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