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GAS PRICES DROPPING OFF JUNE HIGHS IN SOME PARTS OF UNITED STATES

Finally, Some Relief

2020 Ford Mustang Shelby GT500 Review Emissions Fuel Economy CAFE Regulations EPA
Photo copyright Matheus Pach, MuscleCarsAndTrucks.com

We’ve been experiencing some significant pain over the past few months as gas prices have been painfully high. Still, it looks like prices are starting to fall below $4 a gallon at thousands of gas stations, according to an analyst, but it’s unclear how long this brief amount of relief is going to last.

Gas Prices Dropping: Below $4 In Some Areas

According to The Drive, Patrick De Haan of GasBuddy made a prediction two weeks ago on Twitter that the United States would see thousands of gas prices falling back below $4 per gallon within days. By Friday morning that week, the prediction was proven true as nearly 6,000 individual reports stated that prices were below $4 a gallon. It’s unclear if any entire states are back below that mark, but De Haan has suggested that the first beneficiaries will likely be in the southeast.

Gas prices have apparently fallen for a third straight week after momentarily eclipsing $5 per gallon in early June. a GasBuddy report showed that there had been a week-over-week price drop of over $0.10, bringing the national average to $4.78 a gallon. That’s down $0.07 from June 8 of last month. Interestingly, this occurred despite a 2.1-percent increase in demand because of the holidays last week.

We may see yet another week of decline this week, as AAA has stated that gas prices stand at $4.68 today. However, prices remain up $1.66 according to their year-over-year report. In the long-term, prices could be in for further instability, as US gas inventories remain seven percent below where they were this time last year and eight percent below the five year average. And if demand continues as-is, this price drop could be short lived.

A national tanker truck driver shortage could create a spike in gas prices and an overall gas shortage as we move into the summer.
Image Via Facebook.

Written by Zac Quinn

Zac's love for cars started at a young age, after seeing the popular Eleanor from Gone In 60 Seconds. From there, fascination and enthusiasm blossomed and to this day the Ford Mustang remains a favorite. His first job started out detailing cars, but also provided the opportunity to work on restoration including an 1968 Ford Mustang, Ford Firebird, and a C3 Corvette, though he left that job before further work and experience could be had. From there, he was a detailer at a car dealership before quitting that job to try and finish college.

Much of his free time while studying was spent watching YouTube videos regarding new cars, or off-roading. 4WD247 is a personal favorite channel which rekindled a dying flame in car enthusiasm, now tailored towards trucks and SUVs and the fun that can be had building up an overlanding rig, and going on adventures, though, that chapter remains unwritten for the time being.

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