Could gas prices hit a low we haven’t seen in the U.S. in years?
Industry analysts say it’s a good possibility that the national average of a gallon of regular gas could dip all the way down to $3 per gallon soon, a low that hasn’t been seen since 2021.
Want to get caught up on what's happening in SoCal every weekday afternoon? Click to follow The L.A. Local wherever you get podcasts.
According to data compiled by NPR, the national average is currently about 47 cents per gallon lower than it the prices from this time last year, and just since May, prices have fallen by over 20 cents.
A spokesperson for AAA told USA Today that the prices is “falling almost a penny a day now.”
But while we remain on track for a continued drop, there are factors that could stall the decrease or even send the price rising again, particularly international factors regarding the ongoing conflict between Israel and Palestine.
"If Iran gets more heavily involved, that could be a problem,” AAA spokesperson Andrew Gross told Newser. But he pointed out China’s stalled economy combined with record amounts of oil production in the U.S.
could still offset that possibility, meaning prices are heading towards an average below $3 a gallon by Thanksgiving.
Follow KNX News 97.1 FM
Twitter | Facebook | Instagram | TikTok