Gas Prices Have Now Dropped below $4—Faster Than Expected!

Daniella Cressman

Disclaimer: This information is accurate and true to the best of my knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.

Finally, gas prices have dropped below $4 per gallon.

"On average, the price of a gallon of regular gasoline in the U.S. has dropped to $3.99, according to the price-tracking app GasBuddy. Gas prices crossed back below the $4 threshold just a couple months after peaking at more than $5 per gallon earlier this summer." —Sarah Hansen

This swift decrease happened even earlier than experts expected.

"The swift decline happened even faster than experts expected: Last month, GasBuddy Head of Petroleum Analysis Patrick De Haan predicted prices would fall below $4 around August 14." —Sarah Hansen

WILL GAS PRICES FALL EVEN LOWER?

It is quite possible that quite possible that gas prices will fall even lower although that would depend on a myriad of factors.

"Gas prices depend on a variety of factors, including the price of crude oil and demand from drivers. Oil prices have fallen from roughly $105 per barrel a month ago to about $92 per barrel today, and further declines could mean even lower prices at the pump." —Sarah Hansen

Due to the possibility of decreased demand and the expensive price of crude oil, there is a chance that gasoline prices will, indeed, fall even farther, but there really are no guarantees.

“Oil is the primary ingredient in gasoline, so less expensive oil is helpful in taming pump prices...Couple that with fewer drivers fueling up, and you have a recipe for gas prices to keep easing.” —Andre Gross (AAA spokesperson)

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Canadian-American author writing about local politics, personal finance, & dining in Albuquerque.

Albuquerque, NM
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