Gas Prices Are Falling — Here's Why It's Happening and Whether It Can Continue

In the commodity market there's a common saying that"the cure for high prices is high prices." And that's proved true. In other words, high prices bring down demand, which brings down prices.

Additionally, China demand has been soft as the country combats Covid cases. And the U.S. has taken unprecedented measures by releasing record amounts of oil from the Strategic Petroleum Reserve in an effort to put a lid on higher prices. "The streak of daily declines in the retail price of gasoline is about to end as crude oil and refined product futures have rallied off their recent lows," said Andy Lipow, president of Lipow Oil Associates.

The U.S.' historic release of barrels from the Strategic Petroleum Reserve will end this fall, taking some supply off the market. Additionally, the SPR will need to be refilled. A rebound in economic activity in China could also boost demand for petroleum products. Patrick De Haan, head of petroleum analysis at GasBuddy, said in a Thursday tweet that the drop in prices may stall over the next five to 10 days. But he added that the fall could be"short term."The decline for gas prices has been swift, but they're still 81 cents per gallon more than what consumers paid last year.

Don’t give my issue is minimum wage. Raising it increases taxes and lowers govt. benefits.hud pays3500 for my apt a month. Lots of minimum wagers live in hud . Raise wages-lower govt. costs.reduce deficit.

Until it's down to pre Biden levels then it is still hurting Americans. This could have been and still can be solved literally in one week by reopening the pipelines. Never should've been been shut down!!

Where ? Not where this is being reported. Fake news!

No where in California that I know of, still around 5 bucks give or take

Where are they below $4 in the Bay Area?

Where are they below $4?

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