Gas prices in Illinois are now the lowest we have seen in 3 months, according to the latest report from AAA.
The national average gas price was at a high of approximately $5.02 on June 14, according to AAA, and it is currently down to about $3.72 per gallon.
"Less expensive oil usually leads to less expensive gas for drivers," said Molly Hart, spokesperson for AAA -- The Auto Club Group. "This trend has helped pump prices fall steadily for three straight months and, with fall approaching, more markets could soon see prices below $3 per gallon." when the European Union stops buying Russian oil.
"Well, it’s a risk, and it’s a risk that we’re working on the price cap to try to address," Yellen said, referencing an effort by G7 countries to place a price cap on Russian oil. Yellen explained that this is part of why G7 nations are proposing a pre-cap on Russian oil. Not only is the cap meant to decrease Russian revenue as Vladimir Putin continues his
, Yellen said, it is also aimed at "maintaining Russian oil supplies that will help to hold down global oil prices."
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