Gas Prices

Like a Tired Party Balloon, Gas Prices Slowly Deflate

By: Andrew Gross

WASHINGTON, D.C. (May 16, 2024)—The national average for a gallon of gasoline kept up its glacial descent, falling four cents since last week to $3.60. The primary reasons are weak domestic demand and oil costs below $80 a barrel.

“Barring some unforeseen event, this pokey drop in pump prices is not likely to change anytime soon,” said Andrew Gross, AAA spokesperson. “There are seven states with county gas averages at less than $3 a gallon. This trend will likely accelerate as more gas outlets east of the Rockies drop their prices.”

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