Gas prices hit 3-year low in Philadelphia region, experts say. But what's behind the drop?
According to AAA, prices at the pump in Delaware have fallen $0.70/gal from this time last year, and experts with GasBuddy say they're the lowest we've seen since 2021.
US Gas Price Map Shows States Where Costs Falling Fastest
Gas prices are falling across the U.S.—but some states are faring better than others. According to the American Automobile Association (AAA), as of Thursday, the national average for gas prices is $3.
Gas prices are going down
So, during slow travel periods, gas is lower, but when many people are traveling around on the holidays or in the summer, it goes up in price. “It’s, you know, it fluctuates, but for most part, it’s been pretty decent compared to a lot of places,” Rashid Fathi said.
Wisconsin gas prices decrease as fall arrives, but why is that?
Despite this trend, the gas prices can always be subject to change depending on events that can affect gas lines. For example, Wisconsin saw a gas spike back in 2022 due to a fire at a Ohio refinery, as well as Hurricane Ian causing disruptions to oil production in the Gulf of Mexico and impacting large coastal refineries.
Average NJ gas price is just above $3. Why are gas pricing falling now?
Figures by the travel club AAA show the average price for a gallon of gas at $3.08 as of Tuesday, down from $3.15 last week and $3.28 a month ago.
California seeing an increase in gas prices, despite prices continuing to fall across country
According to AAA, the average price for a gallon of regular in California is $4.76 as of Thursday. That's up 10 cents from last week.
Gas Prices Could Break Below $3 Just in Time for Election
"Gas prices are falling because economies around the globe are slowing," finance expert Kevin Thompson told Newsweek.
Why are gas prices falling?
That means gas prices often drop when we switch over to winter gas. There has also been a big price drop in the cost of crude oil. That has been driven by concerns about weakening demand from China and expectations of an oil oversupply.
Gas prices decrease slightly heading into the weekend
Gas prices dropped slightly on Friday, with the national average for a gallon of regular gas coming in at $3.22, according to AAA. On Thursday, the average price for a gallon of regular gas was $3.224.
Gas prices hit 3-year low and could continue to drop, according to experts
Good news for drivers in our area, gas prices are at a 3-year low and could continue to drop. Reporter Dan Snyder has more on what's behind the drop.
Gas prices in Canada snap six-week stretch of declines
Gas prices snapped six straight weeks of declines in Canada, as the nationwide average for regular fuel added 0.7 cents per litre between Sept. 12 and Sept. 19, according to data from Kalibrate. North Bay,
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