Drive in anxious and cruise out confident with the best automotive information for your vehicle! Tune in to KTAR News 92.3 every Saturday from 11 a.m. to noon as Matt Allen helps listeners with their car problems. The show call in number is 602-277-5827.
WASHINGTON, D.C. (May 16, 2022) — With the national average cost for regular gas steadily climbing, three states—Georgia, Kansas, and Oklahoma—are still holdouts for crossing the $4 per gallon mark. The national average for a gallon of gasoline is now $4.48. The increase is primarily due to the high cost of crude oil, which is hovering near $110 a barrel.
“The high cost of oil, the key ingredient in gasoline, is driving these high pump prices for consumers,” said Andrew Gross, AAA spokesperson. “Even the annual seasonal demand dip for gasoline during the lull between spring break and Memorial Day, which would normally help lower prices, is having no effect this year.”
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 3.6 million bbl to 225 million bbl last week. Gasoline demand also decreased slightly from 8.86 million b/d to 8.7 million b/d. Typically, lower demand would put downward pressure on pump prices. However, crude prices remain volatile, and as they surge, pump prices follow suit. Pump prices will likely face upward pressure as oil prices stay above $105 per barrel.
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WASHINGTON, D.C. (April 25, 2022) — The recent dip in pump prices has reversed, with the national average for a gallon of regular gas rising four cents over the past week to $4.12. Upward pricing pressure on concerns that less Russian oil will enter the global market is countered by fears of a COVID-induced economic slowdown in China, the world’s leading oil consumer. These opposing forces are causing the oil price to hover around $100 a barrel.
“As long as the price of oil stays elevated, the price at the pump will struggle to fall,” said Andrew Gross, AAA spokesperson. “Consumers may be catching a little break from March’s record-high prices, but don’t expect any dramatic drops.”
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by nearly 1 million bbl to 232.3 million bbl last week. Gasoline demand increased slightly from 8.73 million b/d to 8.86 million b/d. Although supply and demand factors would have typically supported elevated pump prices, the fluctuating oil price continues to be the main factor influencing prices at the pump.
Glen Hayward of Good Works Auto Repair was on Channel 3 News discussing ways you can save money on gas by making sure your tires are inflated and planning your trips.
MOUNT LAUREL TOWNSHIP, NJ, March 14, 2022 -- Toyota Motor North America marked another milestone with the sale of its 7 millionth Toyota Certified Used Vehicle (TCUV) to Wayne Maver Jr. The 20-year-old from Vincentown, New Jersey, purchased the 2019 Toyota Camry from Holman Toyota.
To celebrate the purchase, Toyota presented Maver Jr. with a check for the total purchase price of the Camry. The dealership and automaker also made a $5,000 donation in his name to the American Bladder Cancer Society, an organization dedicated to raising awareness of bladder cancer and advocating for research into a cure, treatment, early diagnosis and quality of life issues of survivors.
"I wasn't expecting anything like this," Maver said during the check presentation. "I purchased this Camry because of its reliability, and I knew it would last a long time. Now knowing I don't have a car payment is just incredible, especially as I'm just starting my career. I have an uncle that battled bladder cancer, so Toyota making the donation to the American Bladder Cancer Society means as much to me as paying off my Camry."