You are starting to see gas prices below four-dollars a gallon again. Gasbuddy.com’s Patrick De Haan says the statewide average has fallen 33-cents in the last month to $4.19 a gallon that is the fourth lowest statewide average in the country.
“We’re also seeing some areas in a rising number of stations that are falling under the $4.00 a gallon mark, in fact Monroe’s average $3.92,” said De Haan.
De Haan says after setting record high prices in mid-June, we are now seeing one of the steepest declines in gas prices ever.
“It is right up there with the drop in prices we saw during the start of the COVID 19 pandemic it is also rivaling, decreases in prices we saw after the recession in 2008,” said De Haan.
De Haan says a drop in oil prices in response to a potential recession has resulted in lower prices at the pump.
“With economic slow downs pushing some of these concerns, oil prices are down 20-dollars a barrel from early June and that has allowed gas prices to plummet as well,” said De Haan.
He says prices could go back up if there’s a string of good economic news, which could lead to an increase in demand.
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