Lower demand has lowered prices, but the lull could end as summer driving season heats up
Posts tagged as “pump prices”
Today’s national average of $4.89 is nine cents less than a week ago, 30 cents more than a month ago, and $1.80 more than a year ago.
The slight drop in gas demand has helped to limit pump price increases. However, as crude oil prices remain volatile, the price per gallon for gasoline will likely remain elevated.
Gas demand may again start to climb as drivers fuel up for the three-month-long summer travel season.
Consumers may be catching a little break from March’s record-high prices, but don’t expect any dramatic drops.
The war in Ukraine and fear of less Russian oil entering the market caused the price of crude to creep back above $100 a barrel.
Domestically, the national average for a gallon of gas has fallen to $4.11.