US Gas Prices Post Biggest Weekly Drop in Months
Summary
The U.S. average price for regular gasoline fell 17.1 cents in a week to $4.12 per gallon, according to GasBuddy data. Prices were down from a month earlier but remained higher than a year earlier; a GasBuddy analyst said oil-market uncertainty could bring renewed volatility.Key Facts
- The national average gasoline price was $4.12 per gallon after falling 17.1 cents over the week.
- The average was 24.7 cents lower than a month earlier.
- The average remained $1.13 per gallon higher than a year earlier.
- GasBuddy said its figures draw on more than 12 million price reports from over 150,000 gas stations.
- GasBuddy analyst Patrick De Haan linked the weekly decline to the end of refinery maintenance and lower seasonal demand.
- De Haan said developments involving Iran, the Strait of Hormuz, and Ukrainian strikes on Russian refineries could affect prices.
- The article said the cost of living was a key issue in the U.S. midterm elections.
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