when are gas prices going down

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Across the country, Americans may see lower gas prices at the pump in2022. On Tuesday, the U.S. Energy and Information Administration projected that retail gasoline prices would average $3.13 per gallon in December before falling to $3.01 per gallon in January.

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  • 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 has the average gas price dropped in Ohio?

  • For the fourth straight week, the nation’s average gas price has fallen, declining 13 cents from a week ago to $4.68 per gallon Monday, according to AAA. In Ohio, prices were down to $4.57, a 17-cent drop from a week ago.

  • Will gas prices hit $6 a gallon before Labor Day?

  • With expectations of strong driving demand through Labor Day, JPMorgan analysts have predicted $6 a gallon nationwide before fall. Natasha Kaneva, JPMorgan’s head of commodities research, said the price per gallon could jump to $6.20 per gallon by August, Insider reported in mid-May.

  • Will gas prices go up in 2021?

  • It expects Brent prices to fall towards $80 in 2022. For WTI, it expects prices to rise to $82 in 2021 and then fall to $77 by the end of 2022 Can you benefit from higher gas prices? When crude oil prices go up, gas prices rise too.

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