According to AAA, the national average for a gallon of gas is $3.47.
It’s also the first time the national average has been below $3.50 since February when Russia started its invasion of Ukraine.
Other factors are also responsible for this downward trend at the pumps, including fears of a U.S. recession and China’s COVID-19 lockdowns. Some analysts predict gas prices will keep falling as we head toward the end-of-the-year holiday season.The Consumer Price Index shows inflation slowed in October, but despite the cooling, Americans are still feeling the pinch.
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Gas prices drop to levels not seen since FebruaryAccording to AAA, the national average for a gallon of gas is $3.47.
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WA unlikely to be affected by Santos gas leakThe gas leak and subsequent shut-down of the John Brooks platform, offshore Western Australia, is not expected to impact gas supply to the state. Oil and gas major Santos this week announced the temporary shut-down of the platform, which is the main platform supplying the Varanus Island processing facility, which in turn supplies around one-quarter of Western Australia’s gas, following the observation of a gas leak during routine activities on the normally un-staffed facility.
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Average gas price drops below $5 per gallon in Orange, San Bernardino and Riverside countiesThe average price of a gallon of regular self-serve gas has dropped below $5 a gallon in Orange, San Bernardino and Riverside counties.
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California oil refiners posting record profits during gas price spikes: ReportIn testimony to the California Energy Commission, Consumer Watchdog reported the big five oil refiners in the state posted more than $67 billion in profits in the first nine months in 2021.
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