Gasoline prices in the US hit a record low

VTV.vn - High output and weak demand have helped US gasoline prices drop sharply, in many places to less than $2/gallon.

Pumping gas for vehicles at a gas station in New York, USA. (Photo: THX/TTXVN)

Gasoline prices in the US have fallen below $3 a gallon, the lowest level since May 2021. According to fuel price tracking company GasBuddy, the national average price of regular gasoline is now $2.95 a gallon, a sharp decline due to low production costs, increased refining output and weak demand.

Patrick De Haan, head of petroleum analysis at GasBuddy, said this is "a welcome relief for Americans ahead of the holidays."

He also said that the maintenance season for oil refineries has ended, while gasoline demand is weak, creating conditions for gasoline prices to fall sharply.

In some states, including Colorado, Oklahoma, and Texas, many gas stations are selling gas for less than $2 a gallon. California still has the highest prices, averaging $4.50 a gallon, but many counties have seen prices below $4 a gallon.

GasBuddy said softer crude oil prices, ample OPEC+ supplies and record-high U.S. oil production were the main factors driving the drop in gasoline prices. Strong refinery operations also contributed to rising gasoline inventories amid falling demand.

GasBuddy predicts average gas prices below $3 a gallon could persist for the next four weeks, possibly even into winter.

Source: https://vtv.vn/gia-xang-tai-my-giam-ky-luc-100251130182722921.htm