Gas Prices

Global Tensions Keep Falling Gas Prices From Picking Up More Speed

By: Andrew Gross & Devin Gladden

oil refinery

WASHINGTON, D.C. (October 26, 2023)—The national average for a gallon of gas dipped by only three cents since last week to $3.53. Despite slackening demand, the pace of falling gas prices is being held up by the cost of oil, which is hovering in the mid-$80s per barrel.

“The oil market is very sensitive to global events, and fears of a widening war in the Middle East is keeping oil prices elevated for now,” said Andrew Gross, AAA spokesperson. “Domestically, drivers will likely see pump prices keep up this slow slide toward the holidays.”

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