Gas Now Under $4/Gallon at Nearly Half of Stations

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A closeup photograph of a fuel pump showing a price of $3.12Fuel costs have now fallen for 49 straight days, with the typical worth of a gallon of gasoline slipping beneath $4 in 20 states, in line with AAA.

Fuel prices underneath $4 per gallon at practically half of America’s gasoline stations, AAA says, with the least-expensive gasoline concentrated within the South and alongside the Gulf Coast. Patrick De Haan, head of petroleum evaluation for Fuel Buddy, reviews that 80,000 U.S. gasoline stations are at the moment charging $3.99 or much less.

The nationwide common worth of a gallon of gasoline this morning stands at $4.19, AAA says. The final time it stood underneath $4.20 was in early Could.

Why the regular lower?

Individuals Are Driving Much less

As a result of Individuals have modified their driving habits. In a latest survey, AAA discovered that 64% of U.S. drivers reported making modifications of their driving since March. The three commonest modifications had been driving much less, combining errands, and decreasing buying or eating out.

13 p.c reported driving a extra fuel-efficient car, although that change doesn’t essentially imply they purchased one. Homeowners of a couple of car might select to make use of their most fuel-efficient automotive extra typically.

Provide and demand govern gasoline costs. Individuals have decreased their demand, driving costs down.

Declining Costs Might Tempt Us Again to the Roads

That might, nonetheless, result in a backfire impact. The federal authorities’s Power Data Administration reviews that demand for gasoline spiked final week. Individuals burned 9.25 million barrels of gasoline final week, in comparison with 8.52 million the week earlier than.

“We all know that the majority American drivers have made important modifications of their driving habits to deal with excessive gasoline costs,” mentioned Andrew Gross, AAA spokesperson. “However with gasoline beneath $4 a gallon at practically half of the gasoline stations across the nation, it’s potential that gasoline demand might rise.”

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