"According to data from motor club AAA, December has been the cheapest month for prices at the pump this year. The national average for unleaded gasoline has stayed below the $3 mark since Dec. 2, falling to its lowest level of about $2.85 a gallon on Monday. That figure has inched up slightly since, sitting at closer to $2.86 a gallon Tuesday but overall, consumers hitting the road ahead of the Christmas holiday will likely continue to see mild prices."
"So far, AAA says that prices seen this month mark the cheapest December for gas prices since 2020, when the COVID-19 pandemic roiled the economy. The travel organization notes that this month's cheaper prices arrive as supply remains strong. Crude oil, the main ingredient in gasoline, has also been at a relatively mild level with West Texas Intermediate remaining below the $60 per barrel mark for most of December."
December saw national unleaded gasoline averages drop below $3 and reach about $2.85 per gallon at the low point, with a recent slight rise to about $2.86. State-level prices vary widely, from roughly $4.44 per gallon in Hawaii to about $2.30 in Oklahoma. Nationwide prices are down more than 18 cents from last year and 21 cents from last month. Strong supply and relatively mild crude oil prices, with West Texas Intermediate under $60 for most of December, contributed to lower pump prices. Consumers experience relief as other costs remain elevated and year-over-year inflation stays above the Federal Reserve's 2% target.
Read at www.bostonherald.com
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