American motorists can expect some minor relief, with gasoline prices set for their first weekly drop in more than two months amid declining oil prices and a dip in consumer demand.
"Oil really tumbled today — the market is so headline driven," said Andrew Gross, a spokesperson for auto club AAA, which tracks fuel costs."There is a lot of worry about global recessions, which will cause a big slowdown."
The national average for a gallon of regular unleaded stood at an even $5 on Friday, three days after hitting its all-time peak of nearly $5.02, according to A drop in the price of crude oil, coupled with the first weekly dip in demand after three weekly increases, should offer at least a short-term respite from record-high gas prices, Gross told CBS MoneyWatch.
"By the time Tuesday rolls around, we could be back under $5 and even where we were the week before," he said before cautioning"who knows what the weekend will bring." According to Patrick De Haan, an analyst at GasBuddy, the national average fell to $4.99 a gallon on Friday, with gas prices set for their first weekly drop in nine weeks.
LIVE: WE DIVE UNDER FIVE! The national average has fallen back under $5 per gallon and stands at $4.999 per gallon. For the first time in 9 weeks, we are poised see a weekly DECLINE in average
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AAA: National average for a gallon of gas has fallen below $5Now there is good news at the gas pump, AAA said the average price for a gallon of gas is $4.98 nationwide.
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National average price of gas dips just under $5, analyst reportsAnalyst Patrick De Haan tweeted the national average stood at $4.999 per gallon, adding that consumers are poised to see a weekly decline for the first time in nine weeks.
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National average price of gas dips just under $5, analyst reportsAnalyst Patrick De Haan tweeted the national average stood at $4.999 per gallon, adding that consumers are poised to see a weekly decline for the first time in nine weeks.
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National average price of gas dips just under $5, analyst reportsAnalyst Patrick De Haan tweeted the national average stood at $4.999 per gallon, adding that consumers are poised to see a weekly decline for the first time in nine weeks.
Leer más »
National average price of gas dips just under $5, analyst reportsAnalyst Patrick De Haan tweeted the national average stood at $4.999 per gallon, adding that consumers are poised to see a weekly decline for the first time in nine weeks.
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Gas prices could drop below $5 within a week: ExpertGas prices could drop below $5 in the coming week, providing a slight reprieve to a nation that saw the average price per gallon soar over the all-time high mark earlier this month.
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