WASHINGTON, D.C. (November 9, 2023)—The national average for a gallon of gas dropped four cents since last week to $3.40. However, the steady, if slow, decline may gain speed after recent drops in the price of oil. Parked in the mid-$80s per barrel a week ago, oil is now hovering around the mid-$70s. Since it is the main ingredient in gasoline, less expensive oil usually leads to falling gas prices.
“We still need to cast a wary eye on global events, which may roil the oil market and spike prices,” said Andrew Gross, AAA spokesperson. “But domestic gas prices are amid their usual seasonal swoon. Pump prices have fallen or remained flat every day since September 19.”
For the complete report, including the latest EIA data and oil market dynamics, please visit https://gasprices.aaa.com/gas-prices-start-to-feel-low-and-thats-a-good-thing/