Tag Archives: inflation

Daily Recap: US oil demand helps keep price from rising

The price of oil and gas went down a bit today after the EIA weekly report showed slight gains in petroleum stockpiles (almost 5 million barrels or .6%) due to decreased demand. Storage levels of most fuels remain low compared to last year (46 million barrels or 6.5% below) and the five-year average, leaving upside risk for prices if there is a drawdown in the months ahead. I’m proud that our country has lowered consumption this year — and hope we continue to make further progress through a shift toward more efficient vehicles and other travel options/telecommuting. Continue reading