Here is an example of two curves shifting (supply decrease, demand decrease):
Fall typically brings lower gas demand, and the Energy
Information Administration’s latest weekly report shows just that. For the week
ending on September 13, demand dropped by 900,000 b/d from the previous week to
8.9 million b/d. Additionally, total domestic stocks increased by 800,000 bbl
to 229.7 million bbl. Typically, these market shifts would push pump prices
down, but increased oil prices – a result of attacks on oil facilities in Saudi
Arabia over the weekend – have pushed pump prices up. Since Monday, the
national average for unleaded regular gasoline has increased 10 cents to $2.66.
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