The nation’s average gas price declined for the second straight week, falling 9.3 cents from a week ago to $3.77 per gallon. The national average is up 10.2 cents from a month ago and 41.2 cents per gallon higher than a year ago. The national average diesel price increased 4.0 cents in the last week and stands at $5.30 per gallon. GasBuddy’s Patrick De Haan says, “While gasoline prices have seen a large drop, diesel prices have been somewhat mixed, with prices heading higher in the Northeast as inventories drop to extremely tight levels ahead of the heating oil season.” Rising risk of economic downturn, weak Chinese imports and a stronger U.S. dollar were factors pushing oil prices lower in the last week. That comes as OPEC+’s recently decided to cut oil production. De Haan adds that the decline in gasoline prices is seasonal and should continue into the fall, and is unrelated to the coming election.
Gas Prices Down Again, Diesel Higher