For the second straight week, the nation’s average price of gasoline fell, posting a decline of 3.5 cents from a week ago to $3.77 per gallon, according to GasBuddy.
The national average is up 2.8 cents from a month ago and 1.0 cents per gallon lower than a year ago. The national average diesel price fell 0.7 cents last week and is $4.52 per gallon, 36.2 cents lower than one year ago. GasBuddy’s Patrick De Haan says, “we’re likely to see nearly the entire country see gasoline prices trend lower in the week ahead.”
After bouncing around near and above $90 for the last few weeks, oil has not maintained its upward trend as renewed fears about further interest rate hikes lower demand prospects in the months ahead. Meanwhile, OPEC+ plans to hold the line on its current production levels at a key meeting this week.