Fewer drivers fueling up helped the national average pump price to drop four cents in the past week to reach $3.67. But it’s the smallest weekly decline in months and may signal that the streak of daily falling national average gas prices, approaching 100 days, is nearly finished.
“All streaks have to end at some point, and the national average for a gallon of gas has fallen $1.34 since its peak in mid-June,” said Andrew Gross, AAA spokesperson. “But there are big factors tugging on global oil prices—war, COVID, economic recession, and hurricane season. All this uncertainty could push oil prices higher, likely resulting in slightly higher pump prices.”
Meanwhile, most of the country is now using less expensive winter blend gasoline, so modest pump price reductions have occurred. Only California has yet to make the switch, but that happens on November 1.