Gasoline prices just fell below $3. Here’s what’s coming next
Gasoline prices dipped below $3 earlier this week, marking the first time the national average has been below that level this year.
The national average fell to $2.99 on Sunday, according to Sybuddy, a price comparison app. That has not been possible since the last days of 2024. After that, on Monday, electricity prices reached their lowest level since 2021 at the mark of $2.97 intraday for $2.97 per currency.
Some sources currently show the price of gasoline has fallen below $ 3, although there are other estimates that have been around that mark. According to AAA, the national average was $3.05 per person on Tuesday; According to the US Energy Finance Administration, the national average was $3.02 as of Monday.
Prices have been softening this fall as expected. Usually, it tends to cool down after the end of summer, and the change to CHEAPER CHEANT-BLEGH PUREVIEN-PUS This fall, oil prices also fell, and the country was lucky to avoid disruptions in electricity prices until the time of the bulk of the Atlantic Hurricane.
Before dropping below $3 over the weekend, average electricity prices hovered between $3 and around $3.25 throughout the year.
As the price of fuel fell back, the White House quickly seized the opportunity to celebrate the news of gas below $ 3, The argument is proof that “the commitment to the endless production of energy in America is paying off.”
However, Patrick de Haan, head of fuel analysis at Gesbuddy, pushes back on these claims.
“It’s a global commodity,” he wrote in a post on x monday. “There hasn’t been a major policy change or anything so far.”
De Haan added that “Trump benefits mainly from OPEC to increase production,” referring to the organization of petroleum exporting countries.
What are the current electricity prices until the end of the year?
On Tuesday, Gesibuddy’s data was showing prices back at $3. But experts say the limited time for gas below $3 is likely this fall and winter – if oil prices remain low.
Oil was trading at $57 per barrel on Tuesday, according to the West Texas Intermediate benchmark, a benchmark widely used by analysts. That’s about $13 lower than a year ago. The difference is drivers because crude oil is the main component responsible for the selling price of gasoline. (The unpredictable nature of oil markets is one of the reasons predicting gas prices remains difficult.)
“Barring any major disruption, fuel prices are likely to remain slightly below year-on-year levels and may remain below $3 for the next few months,” said Sudladdy’s Blog Post on Monday.
Earlier in the month, AAA experts made a similar rosy analysis of gasoline. Naming tough gasoline tusheries and the annual oil change, Auto Club reports that “consumers are likely to see lower prices at the pump in the coming weeks.”
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