Topic: Tom Kloza

Implied demand for refined petroleum products such as gasoline show the U.S. economy may be cooling off, analysis of recent federal data found.

Retail gasoline prices are on the rise as broader markets start to breathe a sigh of relief over recent concerns about the health of the global financial sector, analysts said.

U.S. data released Wednesday show domestic demand declined somewhat last week, with the appetite from consumer fuels still below pre-pandemic levels.

As oil prices go, so goes the price at the pump and analysts are expecting an uptick due to refinery maintenance and resurgent demand in China.

Some analysts expect $3 gas by Christmas, but a recent increase in crude oil prices could keep declines to the minimum.

Nearly half of Americans are stressed about the cost and availability of energy, up from around a third of Americans one year ago, according to a Gallup poll released Wednesday.

Memorial Day travelers will benefit from declining gas prices and many experts believe the price has already peaked for 2019.

The price of gasoline dropped to a national average of $2 a gallon, the Auto club said.

Though gasoline prices continue to fall nationwide, a fuels analyst said Tuesday the trend may reverse as U.S. refineries start entering a maintenance phase.

Falling demand, advancements in automotive efficiency and increased domestic production have dropped gas prices below $2.00 in some parts of the country.