Road

Gas prices are 30% higher than last year - but fuel demand is cratering to pandemic levels of 2 years ago

2 days ago   |   By Business Insider

A gas station in America. Karl Hendon/Getty Images
The average gallon of gas in the US costs $4.113 today, compared to $4.800 one month ago.
Prices have declined in recent weeks, however they remain 28.9% higher than one year ago's $3.190 rate.
Fuel demand has dropped off dramatically, hitting levels not seen since the pandemic in July 2020, EIA data shows.
US gas prices declined to $4.113 Friday, down from $4.800 a month ago. But prices remain 28.9% higher than last year, according to AAA data. Expensive pump prices in addition to soaring inflation has put pressure on Americans, and...
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European gas is on track for a 3rd consecutive weekly gain as Russia threatens to further taper supplies

2 days ago   |   By Business Insider

Russian President Vladimir Putin. Getty Images
European natural gas remains on track for a third consecutive weekly jump.
Concerns remain about Russia's gas supplies and whether Moscow will choose to slash flows to Europe further.
In the last year, prices have surged 372% for the key fuel.
European natural gas prices are heading for the third consecutive weekly jump as uncertainty remains over Russian supplies. Dutch TTF futures inched lower Friday to roughly €196.85, but remain on track for a weekly gain of about 3%. Since one year ago, European natural gas prices has surged 372%, up from...
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