The great gasoline spike of 2022 has completely unwound, giving consumers a major boost after a year of high inflation.
After moving steadily higher last year, pump prices spiked early in 2022 following Russia’s invasion of Ukraine. The national average topped out at an all-time record of $5.02 a gallon in June.in recent weeks. The national average for regular gas has tumbled 12 cents in the past week and 54 cents in the past month, according to AAA. It’s 17 cents cheaper, on average, to buy gas than the same date last year.
Patrick De Haan, head of petroleum analysis at GasBuddy, told CNN on Friday that the national average could drop below $3 a gallon by Christmas Eve. Twenty-one states already have averages below $3 a gallon, including Ohio, North Carolina and Colorado, according to AAA. InRelated Articles
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