The U.S. national pump price has fallen in 40 of the last 42 days from its September peak. But global tensions may be holding prices declines back as crude oil prices are still well above $85 per gallon.
Gas prices are lower, a lot lower than in September. If seasonal patterns hold, you'll pay less at the pump even into the holidays.
The U.S. price is still up 9.4% for the year but down 7.1% from the level on Sept. 29, 2022. And down 30% from the June 2022 peak of $5.016 a gallon.The prices declines could be steeper, but crude oil prices are providing a floor under pump prices. West Texas Intermediate, the benchmark U.S. crude, finished the week at $85.54 per 42-gallon barrel, down 2.9% from a week earlier and off 5.8% this month. For the year, WTI is still up 6.6%.
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