Tensions in the Middle East and in Ukraine are causing oil prices to rise, increasing the price at the pump.
The national average gas price across the U.S. rose by just three cents last week and now sits at $3.56 per gallon, according to AAA’s weekly report. With spring now here, gas demand is crawling up. Data from the Energy Information Administration showed that demand rose from 8.72 million barrels per day to 9.23 million barrels per day. With oil prices in the mid-$80s per barrel, gas prices are slowly creeping up.
Prospective car buyers are finally catching a break. The average price for new cars declined in March 2024. "The average new-vehicle retail transaction price is declining as manufacturer incentives rise, retailer profit margins fall and availability of lower-priced vehicles increases," Thomas King, J.D. Power president of the data and analytics division, said in a press release. Prices are down $1,648 and now hover around $44,186, on average, King explained.
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