Burnsville, MN — According to the American Automobile Association — AAA — Consumer gasoline demand is at the highest level on record for March.
Gail Weinholzer, public affairs director of AAA Minnesota and Iowa says that according to the Energy Information Administration’s latest report, demand measured at 9.6 million barrels per day – levels typical of summer months, not the first quarter of a year.
She says U.S. exports continue to trend high, accounting for a large chunk of this week’s demand data as well.
AAA says that as demand strengthened, gasoline inventories declined, pushing the national gas price average two cents more expensive on the week to $2.55.
Today’s national gas price average of $2.55 is two cents more than a month ago and more than a quarter (26 cents) higher than this time last year.
AAA says Iowa gas prices are somewhat lower. Today’s average was $2.48 for the least-expensive grade. In our area, for the same grade, gas prices were a little higher. Lyon County’s average was $2.49. Osceola’s was $2.56. In Sioux County, the average gas price was $2.61. AAA didn’t have any data for O’Brien County, but a quick check of gasbuddy.com showed the average was around $2.49 at O’Brien County stations.
Weinholzer says we’re on track to have higher gas prices this summer than in 2017.
In 2016, demand for gasoline in the U.S. averaged 9.33 million barrels per day. And in case you’re wondering, there are 42 U.S. gallons in a barrel.
