August can be a busy month at the pump with school starting and others taking last minute summer trips. AAA offers these daily driving tips to help save on gas:
Slow down and drive the speed limit. On the highway, aerodynamic drag causes fuel economy to drop off significantly as speeds increase above 50 mph.
Avoid extended idling to warm up the engine. It is unnecessary and wastes fuel.
When approaching a red light or stop sign, take your foot off the gas early and allow your car to coast down to a slower speed until it is time to brake.
Accelerate smoothly with light to moderate throttle. This allows the automatic transmission to upshift into higher gears sooner, reducing engine rpm and saving fuel.
AAA members can save at the pump by joining the Fuel Rewards at Shell program at AAA.com/Shell. Members save 30 cents per gallon on their first fill-up when they join between now and August 31, 2021. As part of the Fuel Rewards program, AAA Members earn Gold Status ongoing and save five cents per gallon every day on each individual gas purchase of up to 20 gallons from participating Shell stations with no minimum fill ups.
The nation’s top 10 largest changes: Michigan (+9 cents), Colorado (+7 cents), Delaware (−7 cents), Ohio (+6 cents), Florida (+6 cents), Kentucky (+4 cents), Indiana (−4 cents), South Dakota (+3 cents), Nevada (+3 cents) and Maryland (−3 cents).
The nation’s top 10 least expensive markets: Mississippi ($2.79), Louisiana ($2.82), Texas ($2.84), Alabama ($2.84), Missouri ($2.86), Arkansas ($2.87), South Carolina ($2.88), Oklahoma ($2.88), Tennessee ($2.89) and Kansas ($2.92).
Oil Market Dynamics
At the close of Friday’s formal trading session, WTI decreased by 81 cents to settle at $68.28. A stronger dollar and market concern about the impact of new coronavirus infections on crude demand pushed prices lower at the end of last week. Crude prices also declined after the EIA’s latest report showed that total domestic crude stocks increased by 3.6 million bbl to 439.2 million bbl. For this week, crude prices could decrease further if the market continues to worry that crude demand will decline as restrictions are imposed to halt transmission of COVID-19.