Gas Prices on the downtrend cycle!
Gas prices are falling to a new year low!
The U.S. average for regular unleaded gasoline has declined to $3.32 a gallon, below its average of $3.36 last year
Tweet on gas prices fall
Gas Prices Fall Below Last Year’s Average!
The U.S. average for regular unleaded gasoline has declined to $3.32 a gallon, below its average of $3.36 last year via @WSJ #gasprices https://t.co/VRifNuXYAk— The_Journalbiz (@the_journalbiz) December 8, 2022
WSJ report on gas prices
The U.S. average for regular unleaded gasoline has declined to $3.32 a gallon, falling below its average of $3.36 from last year, according to GasBuddy data. That is down about 35% from its peak of about $5 earlier in the year, when the war in Ukraine disrupted supplies and boosted prices for raw materials from copper to corn to diesel.
The decline in gas prices bodes good news for consumers, whose wallets have been pinched this year by higher prices for nearly everything from milk to bread to eggs. Higher gas prices have been the biggest contributor to multidecade highs in inflation, which have propelled the Federal Reserve to aggressively raise interest rates, battering stocks and bonds alike.
