March 2, 2024
It’s a new record for prices at the pump.

It’s a new record for prices at the pump.

After reaching an all-time national average high of $5.02 per gallon, gas prices have decreased for 70 straight days to $3.88 per gallon.

According to AAA, the national average has dropped more than a dollar since June 14, 2022.

Consumer Prices
After reaching an all-time national average high at $5.02 per gallon, gas prices have decreased for 70 straight days to $3.88 per gallon.
(AP Photo/David Zalubowski, File)

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“Drivers are now benefiting from gas prices that are [$1.14] less than their peak in mid-June,” AAA spokesman Andrew Gross said in a statement. “But now we need to keep an eye on the weather as hurricane season arrives. These storms can affect prices by disrupting oil production in the Gulf of Mexico and impacting large coastal refineries.”

Before the recent downward trend, gas prices had risen steadily under President Joe Biden. The national average for a gallon of gas was $2.46 in February 2021.

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Florida’s gas prices have dropped the most in the last week, with a 12-cent decrease. Arkansas leads the nation with the cheapest gas at $3.40 per gallon. Hawaii remains the most expensive at $5.32 per gallon.

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