Lower Oil Prices Spur Strong Start to U.S. Driving Season

The U.S. is off to a strong start to the driving season as the slump in oil prices in recent weeks has led to the lowest gasoline prices for Memorial Day weekend in four years.  Gasoline demand was strong over the holiday weekend, which ushers in the start of the period of peak demand in the United States and the rest of the northern hemisphere. A large part of the strong demand was due to the fact that the typical seasonal spike in the spring didn’t materialize, because oil prices – the single-biggest driver of gasoline prices—lingered…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com