Gas prices seem to be falling (for now)
After a steady rise since February, gas prices are leveling off, and even dropping in parts of the country. But the relief is only temporary.
Still, it should come as no surprise. Why? Because this is pretty much how gas prices play out every year.
Typically, gas prices typically bottom out in January. By spring, refineries start to go offline for maintenance — so prices tend to increase.
Gas prices drop again before the summer driving season (where we are right now), only to go back up yet again during the summer.
AAA’s Michael Green says the boom in domestic oil production is also playing a factor.
“Prices aren’t as volatile than they were in the past,” Green says.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
