Gas prices are down, but it could be a warning

TEXAS – The nation’s average price of gasoline has fallen for the fourth straight week, declining 1.3 cents compared to a week ago and stands at $3.02 per gallon, according to GasBuddy® data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country. The national average is down 10.6 cents from a month and is 42.4 cents per gallon lower than a year ago. The national average price of diesel has decreased 5.0 cents in the last week and stands at $3.558 per gallon.

“As concerns over tariffs and policy uncertainties grow, gas prices have continued to decline across much of the country, raising the possibility that the national average could slip below $3 per gallon and approach some of the lowest prices seen in years,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “However, this decline shouldn’t necessarily be celebrated, as it comes with strong warning signs. When the economy slows, gasoline demand drops — along with demand for other refined products like diesel and jet fuel. We’ve already seen some signals that the months ahead could be challenging. All of this suggests that gas prices are likely to remain low for now. However, if economic conditions improve, gas prices could eventually follow suit and start rising again.”