Gas prices trending lowerOil prices surged last month as Israel and OPEC member Iran stood on the brink of war, raising concern at the White House that gasoline prices could jump heading into the summer.
When adjusting for inflation, pump prices are about 2% lower compared to last year, according to the Energy Information Administration.
Even in costly California, gasoline prices are down about 27 cents over the past four weeks, he said.
But de Haan said gasoline prices will likely edge lower through the Fourth of July holiday as refiners increase output, which should keep downward pressure on pump prices.
"Since the pandemic, the summer driving season has not seen a surge in demand, which can push pump prices higher," said Gross, the AAA spokesperson.
Persons:
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Locations:
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