New document: Gasoline costs drop for 70 straight days

It’s a brand new document for costs on the pump.

After reaching an all-time nationwide common excessive of $5.02 per gallon, gasoline costs have decreased for 70 straight days to $3.88 per gallon.

In accordance with AAA, the nationwide common has dropped greater than a greenback since June 14, 2022.

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“Drivers are actually benefiting from gasoline costs which can be [$1.14] lower than their peak in mid-June,” AAA spokesman Andrew Gross stated in an announcement. “However now we have to regulate the climate as hurricane season arrives. These storms can have an effect on costs by disrupting oil manufacturing within the Gulf of Mexico and impacting massive coastal refineries.”

Earlier than the current downward pattern, gasoline costs had risen steadily below President Joe Biden. The nationwide common for a gallon of gasoline was $2.46 in February 2021.

Florida’s gasoline costs have dropped probably the most within the final week, with a 12-cent lower. Arkansas leads the nation with the most affordable gasoline at $3.40 per gallon. Hawaii stays the most costly at $5.32 per gallon.