"U.S. Gas Prices Dip Below $3 as Fuel Costs Continue to Decrease Nationwide"
Gas prices in the U.S. have dropped below $3 a gallon at the majority of stations, a level not seen since May 2021. This decrease is influenced by seasonal factors such as weak post-holiday demand and is expected to last until refineries begin maintenance and switch to costlier blends. Despite brief oil market disruptions due to tensions in the Red Sea and Houthi rebel attacks, oil prices remain subdued, with Brent crude around $76.54 a barrel and U.S. crude at $70.96. The current low gas prices, including diesel falling below $4 a gallon, are beneficial for the economy by reducing shipping costs. However, prices are anticipated to rise again by Memorial Day, potentially increasing by 35 to 85 cents per gallon.