AAFES gas prices lowest in nearly 4 years
Army and Air Force Exchange Service fuel prices will fall Saturday to their lowest mark in nearly four years in Germany and the United Kingdom as U.S. prices continue to slide on decreased demand and the slumping cost of crude.
After shedding more than 42 cents a gallon last week, regular gasoline in Germany sinks to $2.02 per gallon — its lowest price since February 2005, and about $2.30 less than its July peak.
In the U.K., mid-grade gas — the cheapest grade sold there — drops to $2.11 per gallon.
The trend won’t carry over to the Netherlands, where mid-grade increases 4 cents a gallon and premium jumps 3.4 cents. That increase was caused by "floor" pricing, which is supposed to prevent the exchange from losing money on fuel sales.
Still, at $2.383 per gallon, mid-grade in the Netherlands is $2.58 less than its July peak.
"Floor" pricing is also in effect for diesel in Germany and premium in the U.K., according to the exchange.
Since Monday, when the U.S. Energy Information Administration conducted its weekly survey of gas stations, stateside prices fell another 2.2 cents, according to the AAA, which monitors prices daily.
Despite a 456,000-barrel drop in U.S. oil supplies, which the EIA reported earlier this week, prices for crude continued to slide Thursday, slipping below $46 a barrel on the New York Mercantile Exchange in early trading. It is the lowest point in nearly four years.
If the trend continues, the price of AAFES regular gas in Germany could dip below $2 a gallon as early as next week.