December 7, 2022

Gas prices have fallen to $3.99 per gallon at nearly 88,000 stations across the United States, a number expected to rise to 95,000 stations next week, according to an expert. And drivers at 12 stations in four states actually pay a dollar less than that.

Patrick de Haan, Head of Petroleum Analysis at GasBuddy, Friday said He predicted the national average would fall below $4 a gallon within days. And at dozens of stations, he said Saturday, prices were already under $3.00 per gallon.

The average price nationwide on Saturday morning was $4,060 per gallon, with drivers in California and Hawaii seeing the highest prices, according to the Data from GasBuddy. Prices were falling steadily from a record high of $5.03 a gallon on June 16, though still more than 87 cents higher than last year’s average.

But that’s partly because Americans drive less. Since March, when the national average gas Reached a monthly high of $4.33, AAA says drivers surveyed have reduced how far they are on the road. In a survey published last month, the organization revealed that nearly two-thirds of US adults have changed their driving habits since March, with nearly a quarter making major changes, including driving less, combining errands and reducing shopping or Eating out.

AAA asked drivers in March how prices would affect their driving, and at the time, nearly 60% said they would change their habits or lifestyle if gas rose to $4 a gallon, and three-quarters would make changes—with 80% saying they would drive less—if Gas was $5 per gallon.

Data from the US Energy Information Administration released this week shows a drop in demand on par with July 2020, amid COVID restrictions, According to AAA.

Gas was one of the biggest drivers of inflation It reached 9.1% in June, the last month for which data are available. The gasoline index rose by 11.2%, according to the Bureau of Labor Statistics.

Biden administration An order to release oil from the strategic reserve earlier this year.

“There is no single reason oil prices are going up or down,” Amos Hochstein, the special presidential coordinator for international energy affairs, told CBS News correspondent Margaret Brennan. face the nation Last month. “You know, when oil prices go up, they tend to say there’s only one reason, and that’s political leadership.”

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