By: Ahmed Abdel Salam
Fuel prices continue to record high levels, exceeding the four-dollar-per-gallon barrier on a general average, supported by the continued persistence of crude oil prices near high levels close to one hundred dollars per barrel. Although the autumn months usually witness a decline in fuel prices, ongoing fluctuations in energy markets have pushed toward recording high seasonal levels this year compared to previous periods.
The national average for a gallon of regular gasoline reached $4.33, maintaining its position above the four-dollar level since late last July, which is more than a full dollar higher compared to the same period last year. In a related context, recent official data showed a decline in gasoline demand during the past week to reach 8.40 million barrels per day compared to the previous week, while production recorded a slight decline to 9.23 million barrels per day, against an increase in total domestic gasoline supplies to 208.3 million barrels.
Crude Oil Inventory Movements and Energy Markets
On the crude oil markets front, prices recorded a notable increase at the end of trading sessions, with West Texas Intermediate settling at $95.09 per barrel. Data released by official authorities indicated a drop in U.S. crude oil inventories by 8.6 million barrels to reach 415.6 million barrels, a level that is three percent lower than the five-year average, reflecting the continued tightness of supplies in global and local markets.
Costs of Electric Vehicle Charging
On the other hand, the national average for the cost of electric vehicle charging at public charging stations stabilized at 41 cents per kilowatt-hour, unchanged over the past week. Costs vary significantly among different states, as some eastern and western states record higher cost levels, while prices drop in other states, amid efforts by drivers and consumers to track transportation and energy consumption costs across various roads using dedicated applications.
