Average price of gasoline It has been reduced to $4.8 per gallon in the US Amid low demand at gas stations. However, the ongoing decline can be halted as the number of people vacationing by road is expected to increase this month, according to the AAA.
“About 80% of gas stations sell regular gasoline for less than $5”AAA spokesperson Andrew Gross said. This is a relief from very high prices of near or above $6 a gallon in May at many stations across the country due to strong demand and rising oil prices in global markets.
“But July is usually an intense month for ordering Gross cautioned that more people are traveling by road, so this downward price trend could be short-lived.”
Although there are two main variables in the US at this time that suggest that prices will not rise again towards recent record levels: Gasoline demand has fallen slightly from last year’s levels and inventories for this particular fuel have increased by 2.6 million barrels.
“This supply and demand dynamic, along with lower oil prices, has caused prices at gas stations to fall. If this trend continues, drivers will continue to stall,” the American Automobile Association said.
On the outside front Current oil prices help support expectations of lower gasoline prices. The price of a barrel of Brent crude, the global benchmark, fell on Wednesday to a 12-week low and closed down nearly 3% to $99.78.
As happened with gasoline prices, oil prices steadily moved away from the highest levels recorded when Russia launched its war in Ukraine and with it a series of sanctions that boosted prices per barrel due to fears that they are becoming scarcer. The global level.
Where has the price of gasoline fallen the most in the US?
⛽️ Texas: down 13 cents to $4,368
⛽️ Delaware: Cut 13 cents to $4,661
⛽️ Arizona: Cut 12 cents to $5,131
⛽️ Illinois: Cut 12 cents to $5,267
⛽️ Indiana: Cut 12 cents to $4,848
⛽️ Ohio: Down 12 cents to $4,706
Where is the cheapest gallon of gasoline?
⛽️ South Carolina: $4.29
⛽️ Mississippi: $4.31
⛽️ North Carolina: $4.43