Increasing Gas Prices Aren’t Deterring Drivers
As shown below, gas prices have been steadily increasing, costing roughly $1.22 per gallon more now than a year ago.
This does not appear to be deterring drivers. In fact, strong demand is hitting U.S. stockpiles hard, while production is still slow because of the pandemic, sending the price of crude oil up, according to AAA. Recent reports reveal that the prices of crude oil are currently at a 7-year high.
Want market insights in your inbox?
Sign up below to receive H2R's free monthly e-mails summarizing the latest trends.
We respect your privacy.