Pump prices continued to fall last week and could fall below $3 by Christmas, according to GasBuddy. (iStock)
Americans found more relief at the pumps as gasoline prices continued to fall last week, posting the steepest weekly drop since early August, according to AAA.
A drop in oil prices, caused by fears of a slowdown in other parts of the world, helped keep US gas prices low. The national average cost of a gallon of gasoline fell to $3.54, 12 cents lower than the previous week, according to AAA.
“Gasoline prices are falling nationwide, with some of the largest declines occurring on the West Coast,” said AAA spokesman Andrew Gross. “But it’s also the West that’s fallen the most because its prices are so high. For example, California is still $1.50 above the national average.”
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Petrol prices are expected to fall further by Christmas
Gas prices have steadily declined over the past few weeks and could fall below $3 a gallon by the end of the year, according to GasBuddy.
“All of the measures look very positive for motorists as this week is expected to continue to see lower gasoline prices, with many areas falling to the lowest level since Russia’s invasion of Ukraine in February.” , said Patrick De Haan, head of oil analysis at GasBuddy. .
“It’s entirely possible that the national average gasoline price could fall below $3 a gallon by Christmas, which would be a huge unwrapping gift for motorists after a dizzying year at the pumps,” he said. continued De Haan.
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National diesel prices also fall
Diesel fuel prices, which have been climbing in recent weeks, fell to $5.18, 9 cents lower than the previous week, according to AAA.
Lower diesel prices “bring much-needed relief ahead of the holidays and help stem rising inflation,” De Haan said.
In early November, a low diesel supply caused prices to spike, raising fears that the costs of food and consumer goods could also rise due to the increased costs associated with transporting these goods. Across the country.
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