AAFES fuel prices in Europe hit six-month low
Fuel prices in Europe will fall as much as 16.8 cents a gallon Saturday at Army and Air Force Exchange Service stores following the biggest one-week price drop at U.S. pumps in six months.
The U.S. national average for a gallon of regular gas has dropped nearly 9 cents since hitting a record $4.114 per gallon last week, according to the AAA, which tracks prices daily.
Regular gas, available only in Germany, falls 4.9 cents a gallon to $4.273, while mid-grade gas in Germany and the United Kingdom drops 4.2 cents to $4.395 and $4.351 respectively. Premium drops 3.8 cents in both countries.
The biggest plunge hits the Netherlands, where mid-grade gas sheds 16.1 cents a gallon to rest at $4.802 and premium falls 16.8 cents to $5.116. Diesel there remains well above $5 a gallon even after shedding 11.5 cents.
In its weekly petroleum status report Wednesday, the U.S. Energy Information Administration indicated that gasoline supplies in the U.S. grew by nearly 2.85 million barrels in the week ending Monday, while demand over the four weeks ending July 18 was 2.4 percent lower than a year ago.
Prices in Germany and the U.K. are largely set using U.S. average prices surveyed every Monday by the EIA.
Prices for fuel in Turkey and the Azores, where all grades of fuel are at cost, will not change, according to an AAFES news release. Diesel fuel in Germany, which is also set at cost, sinks 1.2 cents a gallon.