Drivers stung by high gas prices have enjoyed some welcome relief over the last couple of weeks, even as the impact of the Iran war continues to choke off oil supply.
The national average price of a gallon of gas stood at $4.26 on Wednesday, marking a decline of 30 cents, or 6.5%, since a recent peak on May 21.
Still, prices remain well above where they clocked in before a historic oil shock set off by the war. In late February, the average gallon of gas ran less than $3.
Iran live updates: Iran targets US forces, Kuwait airport amid ceasefire
The dropoff in gas prices owes to a decline in oil costs over the latter part of last month, which coincided with a slump in demand following Memorial Day weekend, some ***** ysts said.
The national average price of a gallon of gas stood at $4.26 on Wednesday, marking a decline of 30 cents, or 6.5%, since a recent peak on May 21.
Still, prices remain well above where they clocked in before a historic oil shock set off by the war. In late February, the average gallon of gas ran less than $3.
Iran live updates: Iran targets US forces, Kuwait airport amid ceasefire
The dropoff in gas prices owes to a decline in oil costs over the latter part of last month, which coincided with a slump in demand following Memorial Day weekend, some ***** ysts said.
11 days ago
