The EIA report also stated that inventories in Cushing, Oklahoma, the NYMEX delivery point, rose 0.4 million barrels to a total of 26.3 million barrels.
“The national average this week will likely fall back under the critical $4 per gallon mark.
“Diesel prices are also falling and likely to go back under the $5 per gallon average this week.
According to new data from the Energy Information Administration , total domestic gasoline stocks decreased by 2 million bbl to 236.8 million bbl last week,” AAA reported in a prepared press statement.
“It’s kind of been a roller-coaster ride for crude oil prices, which peaked around $125 following the invasion of Ukraine and then went up again.