Much refining capacity is offline, and pipelines have been throttled back.
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Gas Price News
US gasoline demand has been weaker than expected this year, but a growing economy and relatively cheap pump prices have the energy industry expecting record demand again this summer driving season, which should help drain the global oil glut. Gasoline demand in the first two months of 2017 was down 2.1 percent from a year ago, according to the US Energy Information Administration. The US gasoline market accounts for roughly 10 percent of global oil consumption, so American motorists have outsiz
It's not just your imagination playing tricks on you.
US fuel consumption may "fall" to 7 million barrels a day by 2035 if EVs account for a third of new-car sales.
Gas prices may be rising, but a gallon of gas this Memorial Day is still the cheapest it's been during the holiday since 2005.
Who says the American love affair with cars is dead? Gasoline is cheap, and Americans are driving more miles than ever. New data shows that motorists in the United States paid their cheapest quarterly gas prices in 12 years in the first three months of 2016.
Ford looks into the future of low gas prices and sees room for four new SUVs. This is what people want, Ford believes, and so that's what they'll get.
PIA's executive director writes that plug-in vehicles don't need high gas prices to survive. They're simply more fun, and that's what it takes to win.
A price war in Michigan recorded gas prices as low as 47 cents a gallon on Sunday. That said, fuel prices have since returned to more normal levels.
AAA reports that Americans paid an average of $2.40 per gallon of gasoline in 2015, which is 94 cents lower than last year - but not as low as the projections for next year.
The national average price for a gallon of gas has dropped below $2.00 in the US, according to AAA, because there's a massive supply of oil in the world market.
Cheap credit and cheaper gas prices are continuing to fuel one of the greatest sales runs in automotive history.
The national average price of gasoline this Labor Day weekend will be its lowest at this time of year since 2004, a result of low oil prices and a quiet hurricane season that has allowed refineries to churn out gasoline and diesel.