Gas Prices are Dropping but Fewer Americans are Filling Up
August 11, 2022
Despite steadily falling gas prices during the peak of the summer driving season, fewer motorists fueled up last week. It is another sign that, for now, Americans are changing their driving habits to cope with higher pump prices. Meanwhile, the cost of oil has edged lower on fears of economic slowdowns elsewhere around the globe. Because of these factors, the national average for a gallon of gas fell to $4.05. Today’s national average is 67 cents less than a month ago and 87 cents more than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand drop...