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Consumer Alerts

Like the leaves, gas prices fall

todayOctober 22, 2023 1

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WASHINGTON — Despite global tensions causing ripples through the oil market, the national average for a gallon of gas maintained its autumnal dip, falling eight cents since last week to $3.56. Pump prices have lost 32 cents since their 2023 peak of $3.88 a month ago. This means drivers are saving about $5 every time they fuel up.

“While gas prices are falling about a penny a day, that feels like a glacial pace,” said Andrew Gross, AAA spokesperson. “The oil market is watching to see if the war between Israel and Hamas widens, so the price is stuck at a rather elevated price in the mid-$80s per barrel. This, in turn, is slowing the decline in gas prices.”

For the complete report, including the latest EIA data and oil market dynamics, please visit https://gasprices.aaa.com/as-the-leaves-fall-so-do-gas-prices/.

Written by: Andrew Gross and Devin Gladden, AAA

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