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30 December 2022 | Other

Gasoline price average is unlikely to drop below $3 in 2022

Brent
WTI Light Crude Oil

It is unlikely that gasoline prices in the United States will fall below $3 per gallon this year as oil drives gasoline prices up, as reported by an AAA spokesman.

He said that the gasoline price average would slide below $3 per gallon only if the price of oil was around $60-65 per barrel and gas demand declined. 

As of December 29, the cost of gasoline in the US is at $3.158 per gallon, the data from AAA website shows.

The price for WTI crude oil stood at $77.82 per barrel, while the price for Brent crude was at $82.27 per barrel. Their prices have steadily gone up since December 9, when WTI crude was trading at $71.02 per barrel and Brent was trading at $76.1 per barrel.

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