9 minutes agoUS gas prices drop below $4 for the first time in 5 months
Periskopi(4 years ago)
(4 years ago)Gas prices fell under $4 for the first time in more than five months in the United States, good news for consumers struggling at high prices for many other essential things. The AP reports that the national average for a regular gallons was $3.99 on Thursday. The Fall of [...]
The AP reports that the national average for a regular gallons was $3.99 on Thursday. The drop in gas prices, airline tickets and clothes is giving consumers little relief, though inflation is high.
Oil prices began to rise in mid 2020 after economies recovered from the initial shock of pandemic. They rose again when the US and the allies announced sanctions against Russian oil for Russia's fight against Ukraine.
Recently, however, oil prices have fallen due to concerns about slowing economic growth worldwide. U.S. raw standard oil has recently been lowered by $90 per barrel from over $120 per barrel in June.
Republicans blame President Joe Biden for the high price of gasoline, using his decisions to cancel a permit for a large pipeline and suspend new oil and gas rents on federal soil.
Biden said over the weekend that a two-car family is saving $100 a month because prices have dropped from their peak in mid-June.
Beden has also debated oil companies, accusing them of not producing as much oil and gasoline as they can, while having had large profits.
