Gas prices: National average falls below $4 per gallon for first time in 5 months – By A.L. Lee (UPI) / Aug 11, 2022
Aug. 11 (UPI) — For the first time in five months, the average cost for gasoline in the United States is below $4 per gallon due mainly to a few reasons — including more domestically produced oil on the market.
According to AAA, the national average on Thursday was $3.99 per gallon. It’s the first time the average has been under $4 since March.
Prices at the pump have been tumbling for about two months after hitting an all-time high — $5.02 per gallon — in the middle of June. It’s another sign of relief for American consumers as hot-running inflation is showing more signs of waning.
Thursday’s national average is 2 cents lower than it was Wednesday, 15 cents cheaper than a week ago and 69 cents less than a month ago, according to AAA. It still remains a bit higher than the average of $3.18 per gallon from a year ago.
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