Gas prices are plummeting. Experts explain why.
Gas prices have plummeted about 13% from a 2024 peak in April, which amounts to a decline of nearly 50 cents per gallon, according to AAA data shared with ABC News.
Why are gas prices plummeting?
The national average is currently $3.21 a gallon, but experts predict it will fall below $3 too. The usual slowdown when summer travel ends is one of the reasons for the plummeting prices.
New York gas prices fell from last week: See how much here
State gas prices fell for the second consecutive week and reached an average of $3.23 per gallon of regular fuel on Monday, down from last week's price of $3.28 per gallon, according to the U.S. Energy Information Administration.
Small nudge at pumps as gas prices increase for 1st time in 5 weeks
Gas prices in Newfoundland and Labrador are up by less than a cent Thursday, marking the first time in five weeks prices have increased.
Gas prices: Increase at the pumps on Wednesday
After weeks of falling prices, gas prices increased slightly on Wednesday. The national average price for a gallon of regular gas rose to $3.215, according to AAA. This was more than Tuesday’s average price of $3.
How low will Massachusetts gas prices get this fall?
AAA predicts the average price of gas in Massachusetts will fall below $3 a gallon before the end of October. And based on seasonal trends, the decline might not bottom out for a few more months.
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AAA: Gas prices should continue to decline
According to AAA, gas prices in West Virginia are averaging $3.08 a gallon, in Virginia the average is $3.01 a gallon.
N.J. gas prices plunge below $3 a gallon at dozens of stations. How low could it go?
At least four New Jersey gas stations had regular gas at $2.63 a gallon on Thursday, according to Gasbuddy.com.
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