Despite the war between Israel and Hamas raising tensions in the oil-rich Middle East, gasoline prices continue to fall in the United States.
As of Sunday, the national average was $3.55 per gallon, five cents lower than a week ago and 31 cents lower than a month ago, according to the American Automobile Association.
“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.”
California drivers, as always, are paying considerably more.
On Sunday, the statewide average was $5.44 per gallon, down 18 cents from a week ago and 33 cents lower than a month ago.
Domestic demand for gasoline has been slightly up over the past week while supply edged lower, according to the U.S. Energy Information Administration (EIA). While this would normally lead to higher prices at the gas pump, flat crude oil prices have kept prices in check, AAA says.
If oil prices remain steady or fall, AAA says drivers can expect further price drops at the pump in the weeks ahead.