Gas prices are the lowest since 2021
Source: Axios
4 hours ago
Gas prices haven't been this low since spring 2021.
Why it matters: Displayed prominently on big signs everywhere you drive, prices at the pump are a key economic indicator for the general public.
The recent lows are a big sign that inflation is increasingly in our rear-view mirror. And, of course, the lower prices are happy news for drivers especially ahead of the holiday driving season.
By the numbers: The average gallon of gas cost $2.98 on Monday, and has been under $3 since Saturday, according to GasBuddy data.
Between the lines: The good news comes too late for the Biden administration, which suffered politically when inflation and the war in Ukraine drove prices above $5 a gallon in 2022.
.Instead, low gas prices are more likely to benefit President-elect Donald Trump, who campaigned on bringing them down
Read more: https://www.axios.com/2024/12/09/gas-prices-us-average-lowest-biden
Wait till Syria gets ramped up if they can't agree on a governmental structure.
elleng
(136,833 posts)TexasBushwhacker
(20,733 posts)Windy Apple
(55 posts)It dropped 70 cents overnight and shortly after the election
Rhiagel
(1,742 posts)For the last year or so, the service stations around here have been playing this game. It will s-l-o-w-l-y drop to around $2.80ish for a day or 2 , then BAM back up to $3.19 just like that. It's not just one station, but about 10 or more stations in the immediate area. And they all hit that mark simultaneously. It's like 1 decides to jack it up and the rest follow suit to that same exact amount.
A couple of years ago, the fall-back position was $3.49. There has to be collusion along the pipeline in order for ALL of them to hit the same jacked-up price every freaking time.
TomJulie
(103 posts)Been a LONG time since I've seen gasoline this low.
Deminpenn
(16,347 posts)I remember gas at $2.60/gal around the late 1990s.