Gas Prices , Continue to Drop, , Hitting 70-Day Streak.
CNN reports that drivers in the United States are enjoying a historic drop in gasoline prices.
According to AAA, the national average cost of a gallon of regular gas has dropped since hitting a record high of $5.02 a gallon on June 14.
According to AAA, the national average cost of a gallon of regular gas has dropped since hitting a record high of $5.02 a gallon on June 14.
On August 22, the national average
dipped down to $3.89 a gallon. .
In July, the national average was at $4.38.
Falling prices have reached
a 70-day streak at the pump. .
Prices are still 73 cents higher
than the same time in 2021.
CNN reports that the national
average for regular gas was up
50% at the peak in mid-June.
Even with the recent drop, gas prices are still up almost 19% from the same time last year.
Last week, U.S. crude jumped 3% to climb back above $93 on signs that OPEC could cut production.
According to CNN, OPEC cutting
supplies could mark a significant shift
and send oil prices back up. .
Earlier this year, the Biden administration released emergency oil from the national stockpile to alleviate economic pressure on consumers at the pump.
Earlier this year, the Biden administration released emergency oil from the national stockpile to alleviate economic pressure on consumers at the pump