The national average price for regular gasoline dropped below $3 a gallon this week for the first time in four years, according to AAA.
The average price stood at $2.99 as of Wednesday, down from $3.03 a week ago. The last time the national average reached $3 or below was May 2021.
Lower crude oil prices, reduced demand and the seasonal switch to less expensive winter-blend gasoline contributed to the decline, AAA said.
West Texas Intermediate crude settled at $68.95 a barrel Wednesday. U.S. crude oil inventories stand at 427.5 million barrels, about 3 percent below the five-year average.
Gasoline
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.
Leave a Reply
You must be logged in to post a comment.