U.S. Average Gas Prices May Climb Above $2 for First Time in 2016
(WASHINGTON, March 21, 2016) Pump prices have climbed higher for two straight weeks, and the national average price of gas may soon climb above $2 per gallon for the first time this year. Gas prices have increased largely due to seasonal increases in fuel demand and reduced production as some refineries conduct maintenance. Today’s average price of $1.98 per gallon is a the highest daily mark since January, and drivers are paying a nickel more per gallon than a week ago and 27 cents more per than a month ago. Despite retail averages rising, consumers continue to benefit from yearly savings and prices remain 44 cents per gallon cheaper than a year ago.
Gas prices tend to reach the highest levels of the year in the spring before the summer driving season. As the weather turns warmer and days grow longer, people tend to drive more, which results in increased demand. Many families also take spring break road trips this time of year, which means they may use more gasoline than normal. This increase in demand comes at the same time that many refineries conduct maintenance to prepare equipment for the busy summer driving season, which leads to a temporary decline in fuel production. In addition, refineries also begin to transition to summer-blend gasoline, which is more expensive to produce, but mandated due to the fact that it is causes less air pollution at warmer temperatures. These factors typically lead to higher gas prices this time of year and have helped push prices higher in recent weeks.
McLEAN, Va. – The U.S. Department of Transportation’s National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA’s 2022 reporting year, which begins Sept 1, 2022.
LONDON, March 23, 2016 /PRNewswire/ -- Worldwide demand for tires is projected to increase 4.1 percent per year to 3.0 billion units in 2019. In value terms, sales of tires are forecast to grow 7.1 percent per annum to $258 billion. Increasing incomes in developing regions will spur growth in the number of vehicles in use, fueling demand for tires. Higher income levels and expanding economic activity will also contribute to increases in average annual vehicle mileage, boosting the frequency of tire replacement. However, growth will be constrained somewhat by rising tire quality, which will exert downward pressure on replacement rates.
Car Care Inspections Reveal 80 Percent of Vehicles Need Service
WASHINGTON, D.C. (Mar. 24, 2016)- Older drivers with a history of falling are 40 percent more likely to be involved in crashes than their peers, according to a new study released by the AAA Foundation for Traffic Safety. Falls limit an older drivers’ ability to function behind the wheel and can make driving risky for themselves and others on the road. These findings are important since annually a record 12 million older adults will experience a fall.
