The Week

AAA anticipates record-breaking travel volume for the Christmas and New Year’s holidays. As many people in the Washington metro area get ready to hit the roads, they will find some niceties and necessities in their Christmas stockings. They will discover gas prices haven’t changed much in the past week in Washington, D.C. proper and across the Washington Metro Area. Area drivers are seeing prices within a penny of just one month ago. Drivers in the District of Columbia are also seeing prices within two cents of one year ago while in the metro area prices are within nine cents of one year ago.

AAA forecasts that motorists can expect gas prices to edge cheaper in the coming weeks as regional refinery rates and gasoline stocks increase throughout the Mid-Atlantic and Northeast region.

Today’s national gas price average is $2.55, down a penny in the last week, down four cents in the last month and up 19 cents from this time last year.

CURRENT AND PAST GAS PRICE AVERAGES

Regular Unleaded Gasoline (*indicates record high)

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $60.44 per barrel, 37 cents higher than last Friday’s close. Prices have remained over the $60 mark since last Friday. Crude hovered near its highest price in three months Thursday, supported by news that U.S. crude inventories had declined and that U.S. and China trade tensions continued to ease. Oil has also gained momentum from announcements about deeper output production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers, beginning January 1.

The Weekend

“As millions of Americans plan to travel for the year-end holiday season, local gas prices remain relatively stable,” says John B. Townsend II, manager of Public and Government Affairs for AAA Mid-Atlantic. “Regional gasoline stocks are at healthy levels thanks to imports, which are assisting in keeping the year-over-year gas price difference under nine cents in the metro area and within two cents in the District of Columbia.”

The Week Ahead

The reduction in global crude supply is expected to help drain the market, which will likely be oversupplied during the first half of next year. This could potentially mean more expensive crude oil and gas prices in January as compared to the start of recent years, assuming crude demand remains robust.

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

• Shell Fuel Rewards Program for AAA Members: (https://www.AAA.com/Shell) gives AAA members nationwide a discount on gasoline at Shell stations when they join the Fuel Rewards® program.
• Fuel Price Finder (https://www.AAA.com/fuelfinder) locates the lowest fuel price in your area. 
• AAA Gas Cost Calculator (https://gasprices.aaa.com/aaa-gas-cost-calculator/) helps budget travel expenses. 
• TripTik Mobile (https://www.aaa.com/mobile) plots fuel prices along your travel route. 
• AAA's Member Rewards Visa® Credit Card (https://www.AAA.com/financial/AAAvisa.htm) accumulates double points on fuel purchases. 

AAA is the most comprehensive resource for gas prices.  Unlike the Lundberg Survey of 7,000 gas stations, AAA reports reflect actual prices from credit card transactions at more than 100,000 gas stations in the U.S.

Next Weekend Gas Watch: Friday, January 3, 2020

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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  https://aaa.com