Oil prices are falling. Will gas prices go down?
aaronheaton1 hour ago
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Oil prices fell below $ 100 a barrel for the first time since April, according to the company. Bloomberg..
Breakdown of news: Oil prices temporarily peaked at $ 130 a barrel in March, according to the report. CNBCThis was the highest price the market has seen for over a decade.
In the first week of July, Reuters Oil prices reported below $ 100 — Brent crude was $ 99.10 per barrel and West Texas Intermediate crude was $ 95.78 per barrel.
These prices are lower than the average price before Russia invaded Ukraine in February.
How about the gas bill? As of Thursday, the national average price per gallon of gas is more than 40 cents lower than it was a month ago.
According to the report, the national average price of regular fuels hit a record high of $ 5.01 per gallon on June 14. AAA.. Currently, the average price is $ 4.57 per gallon.
Will gas prices go down? Fuel prices are lower than they were a few weeks ago, but some experts fear that it can still take months or years for fuel to cool to pre-pandemic prices.
Fatih Birol, Secretary-General of the International Energy Agency, said: Bloomberg.. “We may not have seen the worst yet — this is affecting the whole world.”
As pandemic restrictions begin to be relaxed, the world is resuming life as before. Refineries, on the other hand, have not been able to produce enough oil to meet these demands.
According to this pull between supply and demand could maintain high fuel prices for the foreseeable future. Bloomberg..
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https://www.deseret.com/u-s-world/2022/7/16/23219240/oil-prices-fall-under-100-will-gas-prices-get-lower-russia-ukraine Oil prices are falling. Will gas prices go down?
