I am a Boston-based reporter. Before joining Forbes, I covered the environment, local government and the arts for a small-town newspaper on Nantucket. My previous work includes NPR, WBUR, WCAI and Nantucket Today. I am a graduate of the University of Massachusetts, Amherst, with a degree in political science. Email me at bbushard@forbes.
The national average price for a gallon of gasoline dropped to a seven-month low Saturday, as waning demand and the transition to a cheaper winter fuel blend help save drivers money at the pump, even as oil prices remain at near-historic levels.Gas prices in the U.S. dropped to $3.45, on average Saturday, the lowest price since March 28, according to data fromPrices are lowest across the Southeast, led by Georgia, where drivers pay an average of $2.
The state with the most expensive gas: California , which typically sees some of the country’s highest gas prices due to a combination of factors including high gas taxes and the use of a more expensive fuel blend. No other state averages more than $5 per gallon for gas, though six other states have gas above $4 per gallon: Hawaii , Washington , Nevada , Oregon , Alaska and Arizona , according toDeclining gas prices come as gasoline stocks increase and as demand for gasoline dips slightly from 8.94 million barrels per day to 8.86 million barrels over the seven-day period ending Wednesday, according to data from the Energy Information Administration.
last month with the Brent Crude Oil international benchmark reaching $95 per barrel and the U.S. benchmark West Texas Intermediate climbing to $93 .Oil prices have experienced roller coaster fluctuations over the past year, stemming from factors like Russia’s invasion of Ukraine and European sanctions on Moscow, as well as oil-rich Saudi Arabia’s decision in June to
oil production by 1 million barrels per day. Russia is also reducing its oil output by 300,000 barrels per day.
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