WASHINGTON, D.C. (November 30, 2023)—Despite less than stellar domestic demand, the national average for a gallon of gas fell only two cents since last week. The primary culprit is the cost of oil, which is creeping closer to $80 a barrel. Since oil is the main ingredient in gasoline, higher oil costs tend to put upward pressure on pump prices.
“The current streak of daily pump prices either falling or staying flat started on September 19,” said Andrew Gross, AAA spokesperson. “It appears this run is in jeopardy, and we may see prices edge a bit higher. But if the cost of oil eventually hits reverse and dips again, pump prices will likely follow suit. So stay tuned.”
For the complete report, including the latest EIA data and oil market dynamics, please visit https://gasprices.aaa.com/is-it-the-end-of-the-road-for-falling-gas-prices-2/