Gas Prices Trend Lower as Oil Prices Fall

(Undated) – The downward trend in gas prices has resumed as oil prices have begun to cool off. GasBuddy Head of Petroleum Analysis, Patrick De Haan, says the “median” U.S. price for gasoline has slipped below the $3/gal mark for the first time since early 2024. De Haan says oil prices have begun to cool off after Iran’s attack on Israel. He says oil prices late last week slipped back below the $70 per barrel mark, opening the door for a longer decline to potentially return to the national average. De Haan says he’s hopeful the downward trend will continue as the average price of gasoline starts to make a “targeted effort” to fall below the $3 per gallon mark for the first time since 2021. The current national average is $3.15 a gallon.