One year ago, it was $3.34. Gas prices peaked just above $5 a gallon in June, hitting a record high. Since then, they’ve fallen sharply as an economic slowdown and concerns about a global recession have helped ease demand for oil around the world. Average US prices have dropped by 14 cents over the past week and 47 cents over the past month.
Both Brent crude futures, the global benchmark, and West Texas Intermediate futures, the go-to for US prices, have dropped almost 10% so far this week, hitting their lowest levels of the year. Sources of uncertainty remain, however. The Organization of the Petroleum Exporting Countries, or OPEC, decided on Sunday to stick with its existing plan for production cuts equivalent to about 2% of global demand through 2023.
What’s going to happen when all of thereserves are gone? What a disaster!
Gas prices are still almost a dollar higher than when Trump left office, and we were a net energy exporter. All Biden is doing is draining our Strategic Petroleum Reserves to hold down prices. Nothing strategic about what potus does.
And to get here we only had to sell our strategic reserves. Thanks for yet another weaking blow to the USA... What next? Maybe trade a merchant of death for someone that bounces a ball ?
Breaking news! You no longer need to worry about gas prices because you won't have a job, or a car. Inflation solved!
Great, the drive to job service will be a little cheaper... Thanks Democrats 🤦♂️
But higher than 2019!!!!! Even inflation adjusted!!!!!!
How's the SPR? Thank you for your lies.
Are they cheaper than when Trump was president? Next!
CNN cannot accurately report an even simple story like this. As usual, they report only the pro-Biden version of gas prices and NOT this fact: Gas prices r up 45% since Biden took office!!!
Recession coming that’s why gas is falling
Strategic reserves depleting again?
They're a dollar more a gallon than they were the day before Biden took office. Now let's talk about record prices on food , diesel, heating oil, natural gas, and electricity. Americans are struggling. Biden is clueless.
The fed wants us in a recession? All my years of taking economics and other subjects there is not a single reason to force this on us? Raising interest rates only helps banks?
Theater. It's brewing, and they are just trying to keep Americans at bay until they move their pieces in to a check mate scenario. Just watch...
Laughable at best. Sure. Let’s just release all of all oil reserves for a non emergency. Joe Just a buyer of votes. Nothing more.
OMG. You guys still spewing this nonsense that has went up because of Russia? First it went up before Russia even happened. Second we get 3% of our oil from them. It really went up because Biden put clamps on drilling. Fact
Gas may be down, but this country runs on Diesel and last I saw it is outrageously high in price!!!!!!
Hey!!! We've taken two scoops off the 100 million ton shit pile everybody!! Let's give ourselves a big 'ol shit covered pat on the back ! The politicians you think care, have long ago insulated themselves from the fluctuations they knew were coming to screw you.
Gas prices are still double what they were in 2019
Unfortunately, not in California.
You don’t have the gas prices rise to almost 10 dollars a gallon and then pretend someone’s doing a great job when it lowers slightly
On the one hand, gas prices are falling, benefiting all Americans, especially the non-rich ones. On the other hand, tech employees who got hired after doing LSD with their bosses at burning man are being laid off because they haven’t produced much for months/years.
Oh dam a whole penny! Thx Biden!
Whattt ? The oil prices globally came down but the diesel is still at 5+ per gallon ( was -3.5) , something wrong
Still cheaper under Trump, by a mile 😘 and Trump didn’t release warlords for washed up stoner basketball players
Democrat propaganda outlet.
CNN is fake phoney propaganda communists
CNN is owned by a Republican now I hear. It’s all very confusing.
Gas prices are still higher than when old man Biden took over
About a dollar more per gallon than pre-Biden. For me that's $14 per tank. For 'climate change' conspiracies.
Wow! In Western New York, I just paid $3.75.....
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