“Gas prices were knocked off their seasonal upward trend when new data revealed record-high refinery activity,” AAA spokesman Mark Jenkins said.
“When refineries finished spring maintenance season, they accelerated production to levels that outpaced demand. Because of this unexpected shift in fundamentals, motorists have likely seen the highest prices for the foreseeable future and retail prices should fall a few more cents this week,” Jenkins said.
Gas prices reached their highest monthly average for April in two years.
Dan McTeague, GasBuddy senior petroleum analyst, agreed that prices appear poised to drop again this week.
“An oversupply of gasoline as refiners ramp up production will continue to exert downward pressure on prices at the pumps,” McTeague said. “The national average gasoline price of $2.35 per gallon is a mere 14 cents higher than a year ago, down from a gap of nearly 40 cents just months ago.”
“The expected bump in fuel demand doesn’t seem to be coming, leaving refineries with a lot of inventory that has yet to find a market,” McTeague said.
We are a full service real estate brokerage with over 100 agents to serve you. Let us be your real estate resource. Regardless whether you need to buy or sell now, or sometime in the future, let us help you. We are no pressure and will always try and help. Contact us at 561-792-3948 now.
34 Reasons Why I Love Real Estate Published 10 years ago
"Tue, May 17, 2016
Just wanted to take a moment to recommend an outstanding real estate agent. About a year ago my wife and I looked into buying a new house. We looked at exit realty's website and the next morning we received a call from Joseph Schneider. He is a true professional with an outstanding personality he will instantly make you feel welcome as if you're working with a longtime friend. My wife had unusual requests for the property and Joseph listened and found the property meeting all our needs. He is patient and knowledgeable I would recommend him to all. We purchased our new home in August and since then Joseph has remained in contact, just checking in from time to time. You can look but I doubt you will find a better agent !"