Gasoline prices in the United States became cheaper
reported by Laura, Strategist Rabo The bank said: “Gasoline had the biggest decline among other products in the trading of the energy market on Tuesday, because the summer travel season in the United States has ended and the abundant reserves put more pressure on the price.
The Labor Day holiday, which falls on the first Monday of September, marks the end of the summer driving season in America.
Meanwhile, the price of US oil transactions decreased by 4.4% on Tuesday and reached 70 dollars and 34 cents per barrel. The decrease in the price of crude oil had an effect on the price of gasoline transactions. Patrick Dihan, analyst of “Gazbadi” said on the social network: “The sharp drop in oil prices, It could push retail gasoline prices to their lowest level since 2021 by October.
According to the US Energy Information Administration, the cost of crude oil is the largest component in the price of gasoline at gas stations.
The fuel distribution company TACenergy announced that the price of gasoline at the Gulf Coast Refining Hub is below $2 per barrel. And technical factors show that the price of this fuel will decrease more.
According to a Reuters report, US gasoline stocks stood at 218.4 million barrels as of August 23, which is 0. It was 5% higher than last year.
