On August 1, AAA noted: “National pump prices have fallen 50 of the past 51 days for a total of 25 cents per gallon.” And during peak road-trip periods like we saw on Memorial Day and July 4, gas prices continued to fall due to an unbalanced supply-and-demand.
We’ve seen record-low seasonal prices in 2016, but some experts are still forecasting a price-per-barrel that hovers at a mere $30; a scary thought for petroleum marketers.
Although we are still trying to bounce back from historic low gas prices in the beginning of 2016, there’s good news for petroleum marketers on the West Coast. Pump prices remain slightly higher than the $2 per gallon threshold much of the country is experiencing, including $2.76 in Hawaii and $2.62 in Washington.
We can’t speculate what the future holds for oil prices and an unpredictable market, but you can trust Western Petroleum Marketers Association as your source for updates on industry news that impacts your business.
Check our website regularly for association news and trends to keep an eye on!