The price of gas across America is slowly falling, according to Gas Buddy.
The average cost for a gallon in the U.S. stands at $3.13, a slight drop from the previous week.
But there remain pockets where a gallon is still priced well above $4.
Drivers may be in for a more substantial drop in the coming weeks as OPEC oil producers agreed to another increase in production, which typically helps to drive prices lower with more product on the market.
Reuters reported on Saturday that the OPEC cartel agreed to increase oil output by 411,000 barrels daily for July. OPEC had been decreasing production, down by more than 5 million barrels a day over the past few years. But it started reversing the trend in an attempt to regain some market control.
It will be at least a week or two before that increased production fully plays out on the retail gas market. Gas Buddy reported the states with the highest average prices are: California ($4.77), Hawaii ($4.46), and Washington ($4.35).
Conversely, the cheapest states for buying gas are: Mississippi ($2.62), Louisiana ($2.67), and Alabama ($2.71).
Even though the national average is $3.13, Gas Buddy said the most common price motorists encountered this week was $2.99 per gallon.
Oilprice.com reported that the new national average is noteworthy. It said prices have not been this low since 2021, when the national average stood at $3.04. It concurred with most industry analysts that the OPEC decision will certainly drive prices down even further over the coming weeks.
Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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