Here's Where Gas Prices Are Cheapest After Biggest Drop in More Than a Decade
US gasoline prices dropped to the lowest since the start of the summer, bringing welcome relief to drivers.
Not since 2008 have US gasoline prices fallen so much in one day, a welcome relief to drivers following months of dizzying fuel prices that surpassed $6 a gallon in some places.
The national average for a regular gallon of gasoline fell to $4.72, according to auto association AAA, with 13 states ringing in less than $4.50. A recent selloff in crude oil futures, which have given back much of their surge in the wake of Russia’s invasion of Ukraine, helped bring down prices. Summer driving demand is also below average with consumers reeling from inflation.
The lowest gas prices in the US are currently in South Carolina and Georgia at $4.23 a gallon.
The plummet comes just weeks after President Joe Biden proposed the federal gas tax holiday, which, if enacted, would waive the 18.4-cent national tax for three months.