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People also ask
Why are gas prices going back down?
Oil trading is slowing, with traders anticipating lower demand due to fears of an oncoming global recession. As a result, the national average price of gas per gallon has inched back down, with the current average at $4.80 per gallon, according to AAA.
How much does a gallon of gas cost?
The national average price per gallon topped $5 for the first time in June. While it鈥檚 dropped slightly since then, the average gallon still costs 50% more than this time last year.
How much would a lower gas tax Save you on average?
The savings, however, would be meager. If the gas tax had gone into effect at the beginning of July, it would save drivers about $78, based on data average mileage data from the Federal Highway Adminstration and average mile per gallon data from the U.S. Department of Energy.
Will gas prices ever go back to normal under Biden?
President Joe Biden has implemented emergency measures to help alleviate gas prices, and more could be on the way. But analysts say there鈥檚 no knowing when-or if-we will see a return to relatively 鈥渘ormal鈥?gas prices.