economy
Gas prices: Forty cents per gallon cheaper than a month ago
The national average price for regular gas continued the recent downward pricing trend on Thursday, falling to $4.129 per gallon. It marked a slight decrease from Wednesday’s average of $4.151 per gallon and a 12-cent drop compared to a week ago, when a gallon of regular gas was $4.241, according to AAA. Thursday’s average price was also substantially lower than a month ago, when the cost was $4.52 per gallon, a decrease of over 40 cents per gallon.
TL;DR
- National average gas price is $4.129 per gallon as of Thursday.
- This is a decrease from $4.151 on Wednesday and $4.241 a week ago.
- Prices are over 40 cents lower than a month ago, when the average was $4.52.
- A record high of $4.564 was set on May 21st, with prices falling nearly every day since.
- Gas price volatility is linked to geopolitics, particularly the war between the US and Iran.
- Analyst Patrick De Haan predicts continued fluctuations, with prices potentially falling below $4 or exceeding $5 this summer.
- The market's "psychological standpoint" may lead to more measured responses due to familiarity with volatility.