The nation’s average gas price declined for the fourth straight week, falling 3.8 cents from a week ago to $4.06 per gallon. 

The national average is down 21.1 cents from a month ago and $1.21 per gallon higher than a year ago. 

The national average price of diesel fell 1.2 cents in the last week and stands at $5.02 per gallon. 

GasBuddy’s Patrick De Haan calls the decline “a feat we most likely would not have expected ahead of summer and given the continued turns in Russia’s war on Ukraine.” 

However, he warns the downturn could slow or reverse in the days ahead if the rally in oil prices continues. 

The price of a barrel of West Texas Intermediate crude oil surged from its week-ago level as the EU signaled it may move forward with sanctions on Russian energy, and China worked to reopen some cities shut down due to COVID. 

De Haan adds, “The path forward at the pump remains murky, with many possible outcomes.”

(Story Courtesy of the NAFB News Service)