Gas Prices Fall Over Holiday Weekend

For the first time in ten weeks, the national average price of gasoline has fallen, posting a drop of 1.2 cents per gallon over the last week to $2.17. The national average price of diesel has increased 0.6 cents and stands at $2.42 per gallon over the same period. Patrick De Haan of GasBuddy says the nation experiences a drop in fuel demand last week from COVID-19 cases surging in some states. De Haan says, “it’s possible that if things don’t improve much by Labor Day, we could see the rare trifecta of every summer holiday setting multi-year lows.” Crude oil prices have seen little overall change over the last week. Crude oil prices remain in limbo, along with gas prices, as the next chapter in the coronavirus situation remains murky. With some states seeing a resurgence and early signs of a slowdown in gasoline demand recovery, oil prices haven’t been able to muster additional steam to rally.