The average price of a gallon of regular gas fell to $ 4.32 a gallon, down from $ 4.33 a gallon Monday, according to AAA. Even at just nine-tenths of a cent, it was the biggest single-day decline in gas prices since August 2021.
“Gasoline prices can go up like a rocket and come down like a feather,” said Kloza.
Even if drivers get that 20 cents a gallon break at the pump, it’s not likely to last.
Kloza said as the summer driving season approaches and the United States switches over to a more expensive summer blend of gasoline meant to fight smog and pollution, prices are likely to rise to about $ 4.50 a gallon.
There are two factors that could limit the rise in oil and gasoline prices: one good, one bad.
Russia is the one of the largest exporters of oil in the world. Although relatively little Russian oil reaches US customers, oil is priced in global commodity markets. So the disruption to its flow of its oil had sent prices soaring.