Drivers in the United States are seeing a decline in gas prices even amid uncertainty in the oil markets. Many are curious about what is pushing gas prices lower.
Nationwide, the average gasoline price fell to $3.16 per gallon of regular gas as of Tuesday. This marks a four-cent decrease from last month. Additionally, according to GasBuddy, the median gas price in the U.S. fell below $3 per gallon for the first time since early 2024.
Peterson, Senior Director at AutoApp.com, explained the seasonal factors affecting gas prices. “It’s the season for lower gas prices as demand decreases from the summer months and as pumps in some parts of the country switch over to a winter blend that makes it easier to start a car in cold weather,” they said.
Peterson also noted that the reduced use of crude oil in refining processes plays a role. This has caused gasoline prices to be less sensitive to crude oil wholesale prices.
In recent years, U.S. gasoline prices have become less dependent on global oil market fluctuations. “As the nation’s refining capacity has expanded and reserves have been stable,” Peterson said.
With crude oil prices around $70 per barrel, this has further helped in maintaining stable prices at the pump.
For more information on gas prices and trends, check resources like AutoApp.com and GasBuddy.
