Gas Prices Dip Ahead of Halloween
AAA reports a slight drop in gas prices ahead of Halloween, with diesel prices remaining steady.
2 min read
Gas prices dipped slightly ahead of Halloween, falling five cents per gallon over the past week, according to AAA. On Thursday, the national average sat at $4.22 per gallon, two cents down from Wednesday, and more than 20 cents down from the previous month.
Diesel Prices Remain Stable
Diesel prices, however, continue to hold steady, sitting at $6.33 per gallon as of Thursday, three cents more than last week. It remains about 20 cents under the record high reached on September 22nd.
Crude Oil Prices Continue to Rise
Crude oil prices sit at about $102 per barrel as of Thursday, according to Trading Economics. They’ve continued an upward trend since the beginning of the month after having dipped to $88 per barrel on October 7th.
Oil Prices Fluctuate Following Geopolitical Events
Oil and gas prices soared following the advent of the U.S.-led campaign against Iran on February 28th, with crude oil reaching more than $112 per barrel at the beginning of April. However, costs fell sharply at the end of June, going under $70 per barrel before shooting up again, though remaining under the high seen in April.
EU to Release Oil Reserves
European Union (EU) energy commissioner Dan Jorgensen told reporters that EU member countries had reaffirmed their commitment to release 42.6 million barrels of reserves over the next months, with about half being diesel.
France to Release Oil Over Next Three Months
Per media reports, French Economy Minister Roland Lescure said Thursday that the release will occur over the next three months.
U.S. Assists in Oil Exportation Through Strait of Hormuz
On Sunday, U.S. Central Command (CENTCOM) said U.S. forces assisted in the exportation of more than 1.5 billion barrels of crude oil through the Strait of Hormuz since summer.
Trump Announces Arrival of Venezuelan Oil
President Donald Trump also announced on Tuesday the arrival of one million barrels of oil from Venezuela, which he said were provided at no cost to American taxpayers and were part of the largest oil deal in history.
Source: OANN
