U.S. drivers finally see the light? Experts: the average price of gasoline across the U.S. may fall below $4 in the coming weeks
As Russia-Ukraine talks progress and the new crown epidemic continues to rage, one industry expert says the likelihood of the national average price of regular gasoline falling below $4 a gallon is growing in the coming weeks.
Patrick De Haan, head of petroleum analysis for the travel and navigation app GasBuddy, said that while it's almost "impossible to know what's going to happen," "the likelihood of the national average price of gasoline falling back below $4 a gallon is rising. "
However, De Haan noted that this situation could "easily change" due to oil price fluctuations. Oil prices, as well as gasoline prices, are influenced by a variety of factors, including whether the surge in new cases of overseas crowns continues and how the conflict in Ukraine evolves.
Since the beginning of the year, international oil prices have been rising due to tight supply and increased demand. However, the conflict between Russia and Ukraine that erupted in February spurred a further spike in oil prices, pushing gasoline prices up to record levels.
U.S. gasoline prices have retreated since reaching a record $4.331 per gallon on March 11, but remained at $4.244 on Tuesday, according to the American Automobile Association (AAA).
Russia-Ukraine conflict and epidemic to affect gasoline price trends
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