ORLANDO, FL—AAA’s Your Driving Costs (YDC) has been a reliable data source for the expenses associated with owning and operating a brand-new vehicle for more than seven decades. Based on the latest figures, the average cost of owning and operating a new vehicle in 2023 has increased significantly, with an annual expense of $12,182 or a monthly cost of $1,015. …
WASHINGTON, D.C.—The national average for a gallon of gas dropped four cents since last week, despite growing gas demand, according to AAA. However, the price of oil has declined several dollars per barrel and is holding steady below $80, contributing to lower pump prices. As Labor Day approaches, gas demand and volatile oil prices, particularly during an active hurricane season, …
WASHINGTON, D.C.—OPEC’s announcement last weekend that it will cut production by over a million barrels per day starting in a month took the oil market by surprise. In response, crude immediately surged well above $80 a barrel, although it has since struggled to stay above that mark. Meanwhile, the national average for a gallon of regular gasoline rose seven cents …
ANNAPOLIS, MD—Governor Larry Hogan on Friday announced that, to address the rise in heating costs, recipients of the state’s utility and electric assistance will receive enhanced benefits during this home heating season. The state is also increasing funding for weatherization assistance programs to improve energy conservation. “The relief we are announcing today will help our most vulnerable residents keep up …
WASHINGTON, DC—Motorists caught a bit of a break over the past week as the national average price for a gallon of gas leveled off at $3.41, down a penny from last week. Since October 30, the national average has fallen on nine different days, after having risen steadily each of the previous 31 days. “A slight dip in gas demand, …
BALTIMORE, MD—The national average price for a gallon of gas rose 8 cents on the week to reach $3.27, according to AAA. This is the highest price since October 2014 and is primarily due to the surging price of crude oil, which crept above $80 bbl before edging slightly lower. “The key driver for this recent rise in the price …
NOTTINGHAM, MD—Gas prices rose two cents over the past week to $3.20 per gallon, a level not seen since October 2014. The probable causes for the increase are a slight uptick in demand and the high price of crude oil, which is stubbornly staying above $73 bbl, according to AAA. “Global economic uncertainty and supply chain concerns caused by the …