Jul 21, 2022

Gas prices down 10 percent from June peak

Posted Jul 21, 2022 2:48 PM

The national average price for a gallon of gas is below $4.50 for the first time in two months.

The Washington Post says that may offer some relief for Americans struggling to make ends meet due to runaway inflation.

Triple A says the national average was $4.495 on Tuesday, a ten percent drop from the June high point of more than $5 a gallon.

A gallon of diesel dropped 31 cents over the last month, now at $5.51 on Tuesday. At least 35 states across the country have at least one retailer selling gas for under $4 a gallon.  

The fuel-tracking app GasBuddy says the lowest price this week was found in Virginia, where at least two stations are selling their gas at $3.25 a gallon.

The turnaround in prices has taken industry analysts by surprise. Patrick DeHaan of GasBuddy says, “We see prices drop like this maybe twice a century. “