U.S. gas prices have continued to drop this week, now averaging $2.99 per gallon, despite ongoing military conflicts in the Middle East. The average price for regular gas across the country is currently $3.07, down 12.9 cents from last month and 39.8 cents lower than a year ago, according to GasBuddy.
Patrick De Haan, head of petroleum analysis at GasBuddy, noted that prices are at their lowest since early this year and are likely to keep falling. He emphasized that the recent price drops are not related to the upcoming election.
“The national average price of gasoline has continued its decline as expected. Oil prices have fallen due to Israel’s avoidance of attacks on Iran’s oil infrastructure, and seasonal demand decreases are typical for this time of year,” De Haan wrote in a blog post. He added that diesel prices are also at their lowest in over three years.
De Haan pointed out that while many people may attribute falling prices to political factors, the seasonal changes are the primary drivers. With winter gasoline soon to arrive in California and lower demand as colder weather approaches, he expects gas prices to keep dropping, even beyond the election.
Currently, 19 states have average gas prices below $3 per gallon. However, Utah residents are paying an average of $3.36 per gallon, down from $3.43 last week and $3.74 this time last year.
Here are the current average prices for a gallon of regular gas in select Utah cities as of Wednesday, according to AAA:
Logan: $3.31
Ogden: $3.32
Provo-Orem: $3.26
Salt Lake City: $3.33
St. George: $3.47
States with the highest average prices include California and Hawaii at $4.53, and Washington at $4.01. The lowest average prices are found in Texas at $2.60, Mississippi at $2.65, and Louisiana at $2.69, according to GasBuddy data.
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