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Summer Driving and Gasoline Prices

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Dean Foreman
Posted May 1, 2019

With summer driving season almost here, nationwide average gasoline prices were $2.88 per gallon as of April 30, according to the American Automobile Association, identical to what they were one year ago when adjusted for price inflation. This good news for consumers is due, at least in part, to record-breaking domestic oil production, which has put downward pressure on global prices for crude oil, the main factor in determining prices as the fuel pump.

While the current price may be the same when you pull up to pump, some notable things have changed behind the scenes.

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The economic—and environmental—case for natural gas

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Jessica Lutz
Posted May 31, 2018

In a recently released report, the U.N. Conference on Trade and Development digs into the factors that have made the U.S. energy dominance possible, and – specifically – the role of natural gas in energy dominance.

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Gasoline Prices and Perspective

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Mark Green
Posted May 24, 2018

Let’s add some needed perspective in the ongoing discussion of U.S. gasoline prices – even as Washington politicians try to exploit them for their own agendas. The latest political play: Senate Democrats want the president to cajole other nations into producing more oil to increase supply in hopes of moderating things at the pump.

Certainly, increasing global crude supply is important, because in the past doing so has put downward pressure on the cost of crude, the No. 1 factor driving gasoline prices.

But, since we’ve seen how much lower and less volatile prices have been the past four years, thanks to the growth of U.S. oil production, wouldn’t it be smarter to encourage greater oil production here at home? Senate Energy Committee Chairwoman Lisa Murkowski

thinks so.

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Energy Today – April 30, 2013

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Mary Schaper
Posted April 30, 2013

Bloomberg – Approve Keystone Now

Bloomberg’s editorial board argues that rather than encouraging more study on the Keystone XL pipeline, President Obama should “now prod the State Department to move as fast as possible” to approve the project.

AEI Carpe Diem Blog – Texas Oil Output Continues

Mark J. Perry writes, “The exponential increase in Texas oil production over the last several years is nothing short of phenomenal, and is a direct result of … game-changing drilling technologies in America that have now revolutionized the nation’s production of shale oil.”

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Taxes at the Pump

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Jane Van Ryan
Posted January 14, 2011

The nationwide average price of gasoline remained steady at $3.095 a gallon yesterday, according to AAA. As we've reported here many times, the cost of crude oil is the largest factor in the price of gasoline, but excise taxes also account for a large percentage of the pump price.

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Thanksgiving Travel and Fuel Prices

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Jane Van Ryan
Posted November 22, 2010

Nearly 42.2 million travelers are expected to hit the roads or take airplanes during the Thanksgiving holiday. According to AAA, that's an increase of 11.4 percent over last year.

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