U.S. Gas Prices Drop Below $4 National Average
Gasoline prices decreased in every U.S. state over the past week, bringing the national average down to $3.96 per gallon.
The national average for gasoline fell to $3.96 per gallon, marking the first time prices have dropped below the $4 threshold since early August. Prices decreased in every U.S. state over the past week, including Minnesota, where costs fell 18.8 cents to an average of $3.88, and South Carolina, where prices reached a statewide average of $3.45.
GasBuddy reported that diesel prices also declined in nearly every state, with the national average decreasing by 9.5 cents to $6.18 per gallon. In South Carolina, prices have dropped nearly 55 cents over the past month, though they remain 77 cents higher than the previous year.
Patrick De Haan of GasBuddy dismissed claims that the price drops are linked to the upcoming election, calling such beliefs a myth. He explained that the decline is driven by seasonal shifts, as cooler weather reduces demand and refiners increase output following maintenance. De Haan noted that prices have historically dropped in the 30 days preceding an election every year since 2006, with 2010 as the only exception.
