Prices are dropping because the cost of crude oil per barrel has been tumbling — and that's starting to show at the gas pump, energy experts said.
Stubbornly high gas prices that have been crimping household budgets for months are starting to tumble. In some states like Texas, prices have fallen below $3 a gallon. , down more than 4 cents from a week ago, according to GasBuddy. AAA pegged the national average at $3.36 a gallon as of Monday, down a nickel from a week ago. Diesel fuel prices are also falling, hitting an average $4.38 a gallon this week, down nearly 8 cents from the previous week, GasBuddy said.
"Some nine out of 10 states saw declines over the last week, so the drops are showing up for most across the country, with the exception of the West Coast as the transition to summer blends continues, and in the Great Lakes, where prices cycled last week but have now resumed declining," Patrick De Haan, head of petroleum analysis at GasBuddy, said in a fuel price report.
The drop in per barrel prices is noteworthy because the"higher or lower oil costs will play a major role in the price we pay when fueling up," AAA spokesperson Andrew Gross
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