A drop in demand and dropping oil prices roll back numbers back to May 2022 territory at the pump, but there are still clouds on the horizon.
National average gasoline price drops to $4.52 a gallon as of July 18, roughly five weeks after prices topped $5 a gallon.
Energy prices in Europe are still expected to rise dramatically as winter approaches, and as the EU enacts a ban on sales of Russian oil within the union. "Global economic headwinds are pushing oil prices lower, and less expensive oil leads to lower pump prices," said Andrew Gross, AAA spokesperson."And here at home, people are fueling up less, despite this being the height of the traditional summer driving season. These two key factors are behind the recent drop in pump prices."
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