Gas Prices Plummet to Lowest Level of the Year Ahead of Holiday Season
TL;DR Summary
Gas prices in the U.S. have dropped 19% since September, reaching the lowest point of the year just in time for the holiday season. Prices are averaging less than $3 a gallon in over 20 states, and they could continue to fall. This decline is attributed to falling oil prices, driven by record U.S. production and a weakening economy in China. While OPEC members and allies have promised oil supply cuts, traders remain skeptical. Overall, consumers are experiencing lower gas prices compared to previous holiday seasons, and the trend is expected to continue into January.
- Gas prices have fallen 19% since September, hit lowest point of year ahead of holiday CNBC
- Gas, oil prices fall in November CPI report Yahoo Finance
- Gas Prices Are Falling, Hitting Lowest Level in Almost a Year The New York Times
- Why gas prices going down as U.S. reaches lowest level in 2023 USA TODAY
- Gas prices remain mostly steady amid OPEC production cut WAVY TV 10
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