Drivers may have noticed a welcome trend at the pump: gas prices are falling. Over the past month, the national average has dropped by about 14 cents per gallon, bringing some much-needed relief as the summer travel season approaches.
AAA's Don Redmon says the dip in prices can be attributed to several factors.
"The seasonal transition from winter to summer-grade gasoline typically affects costs, but this year, lower crude oil prices have also played a key role in pushing prices down."
So, is this drop just temporary — or could it last into the summer months? Redmon says there’s reason to be cautiously optimistic.
"While prices could still fluctuate based on global supply and demand, barring major disruptions, we could see relatively stable prices throughout the early part of summer."
Still, drivers are encouraged to remain mindful, as geopolitical tensions, hurricane season, or unexpected refinery issues could reverse the trend quickly.
For now, though, we are enjoying a bit of extra breathing room in our budgets, and hoping it lasts.
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