Pump prices continue to fall. How long will it last?

The trend is expected to continue for a sixth week in a row and through mid-August, barring any...
The trend is expected to continue for a sixth week in a row and through mid-August, barring any major hurricanes, outages or unexpected disruptions.(Source: WALB)
Published: Jul. 18, 2022 at 10:34 AM CDT
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(Gray News) – The national average price of gas is on a steady decline, falling for the fifth week in a row.

According to GasBuddy, the national average is now $4.51, down 15 cents from a week ago.

“We’ve seen the national average price of gasoline decline for a fifth straight week, with the pace of recent declines accelerating to some of the most significant we’ve seen in years,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

De Haan predicted the trend will continue for a sixth week in a row and through mid-August, barring any major hurricanes, outages or unexpected disruptions.

“So far, we’ve seen the national average drop for 34 straight days, with over 25,000 stations now back at $3.99 per gallon or less, and thousands more stations will join this week,” De Haan said. “In addition, we will see several states fall back under an average of $4, the majority being in the South, but that could spread to more states in the weeks ahead.”

The national average is down almost 50 cents from a month ago, but is still $1.35 higher than a year ago, according to GasBuddy.

AAA said gas is the least expensive in South Carolina, Texas, Georgia and Mississippi.

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