US drivers could see lower gas prices this year and next as oil supply outpaces demand. The US will continue to ramp up output from record levels, the EIA said.

Gas prices in Florida continue to rise and fall, dropping from $3.11 per gallon to $3.06 per gallon midway through last week before bouncing back up to $3.11 on Sunday. But motorists may soon see prices on a steadier upward trajectory due to increased oil prices, according to AAA — The Auto Club Group.

U.S. crude oil stocks excluding the Strategic Petroleum Reserve (SPR) fell last week to their lowest since April 2022 as exports rose and imports fell, the Energy Information Administration (EIA) said on Wednesday.