Gasoline Prices Begin To Fall As Demand Tapers Off

5 Dec 2017   Prices

Gasoline prices in the United States are slowly falling after a Thanksgiving high, according to emerging data on the fuel’s price points. But drivers should enjoy the current falling prices—because they won’t be here for long. On Monday, the national gallon of gasoline averaged $2.465, down 3.5 cents from the previous Monday. Demand for gasoline dropped after Thanksgiving as families returned to their homes, ending a yearly road-trip season—kicking off the season of lowered demand for the fuel. Still, GasBuddy’s pre-Thanksgiving report pegs gas prices at their highest average since 2014, the year oil prices crashed from their highs of over $100 per barrel—so the fall in prices won’t be as much as many are accustomed to. “With OPEC deciding last week to extend last year’s agreement on oil production cuts, the future for gasoline prices isn’t as rosy,” said Patrick DeHaan from Gasbuddy.com. “While the short term may […]

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