The price of a barrel of oil dropped 20% Monday to below $100 a barrel, and experts say gas prices will follow.
The price of a barrel of oil dropped 20% Monday to below $100 a barrel and experts said gas prices will follow but warn to not hold your breath.“I think it’s on our minds a lot more and we drive a lot less and thank God it’s coming down if it does,” said Jordan Levsock of Mill Valley.
And that is one big “if”. Experts say cheaper oil will result in cheaper gas, but it’s hard to say when. “Prices at the pump tend to follow oil prices up very quickly but they do not tend to follow oil prices down quite as quickly,” said Andrew Campbell of the Energy Institute in UC Berkeley. When will gas prices start to come down? A notable proposal at the state capitol suspended our gas tax and prices have started to level off over the past few days. But we’re also paying more than $1 per gallon more than what we paid one month ago. NBC Bay Area’s Raj Mathai spoke to Andy Campbell of the UC Berkeley Energy Institute for some insight.
Campbell said two events lead to Monday’s big drop in the price of oil. One, Some optimism over potential peace in Ukraine. And a surge in COVID-19.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Gas prices remain high, but falling oil prices halts daily surge in pump pricesAAA reports the national average fell a penny since Friday and held at that price throughout the weekend.
Weiterlesen »
Dip in oil prices cause Ga. and Ala. gas prices to dropSomething that has been on everyone’s mind as of late is gas prices and soon you may see some relief at the pumps.
Weiterlesen »
Why We Are Seeing Record High Gas Prices, Not Record High Oil PricesGas prices have reached peaks never seen before, but that’s not the case for oil. The record high gas price was reached in the U.S. with a national average of $4.43 per gallon. The average price of a gallon of gas in San Diego County is $5.76. Gas prices have many factors with the primary factor being the cost of…
Weiterlesen »
Cryptocurrency prices mixed; Bitcoin trading at $39,000Cryptocurrency was mixed early Monday morning as bitcoin and dogecoin were lower, but ethereum was higher.
Weiterlesen »
Dave Ramsey on high gas prices and 6 ways to save moneyAs the national average for gas prices hit $4.325 per gallon on Friday, Dave Ramsey shared six smart tips for how to offset those high costs right now.
Weiterlesen »