(NAFB) – The nation’s average gas price declined for the second straight week, down 3.3 cents per gallon from a week ago to $3.14 per gallon.
The national average now stands unchanged from a month ago and $1.01 per gallon higher than a year ago. The national average price of diesel is down 0.9 cents in the last week and stands at $3.27 per gallon.
Gas Buddy’s Patrick De Haan states, “Gasoline prices have started to slide over the last few days as oil prices have plunged, largely fueled by a continued global surge in COVID-19.”
De Haan also notes concerns that fuel demand may shrink as more companies table return to work plans and the summer driving season comes to a close, and he expects the national average gas price to fall below $3 per gallon within the next few weeks. While Covid cases may eventually slow, OPEC has continued its plan to ramp up oil production every month until 2022, leaving oil under heavy selling pressure.