Gas Prices Fall For 3rd Straight Week
Authored by Naveen Athrappully via The Epoch Times,
The national average price for a gallon of regular gasoline declined for three consecutive weeks, dropping from $4.56 per gallon on May 21 to $4.12 per gallon on Thursday.
Lower gasoline prices are “delivering some relief to drivers during the busy summer travel season,” the American Automobile Association (AAA) said in a June 11 statement.
“Gas prices typically peak around this time of year, but uncertainty surrounding the Strait of Hormuz makes this year more unpredictable. Pump prices remain at four-year highs, but the national average is currently far from the record set on June 11, 2022, of $5 per gallon.”
On Friday, prices declined marginally to $4.1 per gallon, which is lower by roughly 40 cents from a month back, according to AAA data. In five states, prices exceeded $5 per gallon—California, Hawaii, Washington, Alaska, and Oregon.
In its statement, AAA attributed the three-week decline to crude oil prices remaining below the $100 per barrel level.
Brent crude oil futures prices shot up after the war began, hitting a high of over $126 per barrel on April 30. Oil ...
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