The average price for a gallon of gasoline has fallen below $4, according to a leading tracker of prices.
AAA reported that the current national average for regular gasoline has fallen to $3.99. That’s well below the peak of $5.02 in mid-June, though still up considerably from the $3.19 average one year ago.AAA reported that the current national average for regular gasoline has fallen to $3.99. That’s well below the peak of $5.02 in mid-June, though still up considerably from the $3.19 average one year ago.
The Energy Information Administration’s tracker hasn’t seen regular gas prices below $4 since late February. Gas prices range dramatically by state, with California prices averaging $5.38 per gallon while Texas prices are just $3.49. The White House has taken some credit for gas prices dropping after releasing oil from the Strategic Petroleum Reserve. The Treasury Department in late July estimated the SPR release lowered prices anywhere from 17 cents to 42 cents per gallon.
The drop more broadly tracks a big decline in crude-oil prices CL.1 BRN00 amid worries the global economy will deteriorate as the Federal Reserve and other central banks lift interest rates to fight inflation. The International Energy Agency also reported last month that U.S. and Canadian producers were boosting output, and the sanctions on Russia’s oil industry were having less impact than expected.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Landfill Gas Mitigation Firm Vespene Energy Secures $4.3M to Bolster Gas-to-Bitcoin Solutions – Bitcoin NewsOn August 9, Vespene Energy announced the company has raised $4.3 million in a funding round led by Polychain Capital to bolster gas to bitcoin solutions.
Read more »
One year ago vs. today: Comparing gas price changes in Utah vs. national averageWhile Utahns are finally seeing a decrease in gas prices after a painful period of rising costs, the state average is 69 cents above the national average for a gallon of regular.
Read more »
Bitcoin, Ethereum Technical Analysis: BTC Drops Under $24,000 After Falling Below Key Price Ceiling – Market Updates Bitcoin NewsBitcoin fell below $24,000 on Tuesday, as prices collided with a key resistance level. ETH was also lower, nearing a breakout below $1,700.
Read more »
Ford’s New F-150 Lightning Truck to Get Price HikeThe car company’s new all-electric truck is getting a price increase fewer than four months after it started shipping to dealerships for the first time.
Read more »
Los Angeles gas prices: Cost of a gallon drops for 57th day in a rowThe price of a gallon of self-serve regular gasoline in LA County dropped to $5.429 on Wednesday, the 57th straight day of decreases
Read more »