As of Monday, the average gas price is $4.17 per gallon, according to data compiled from more than 11 million price reports across the country.Though prices have fallen this week, the national average is up 25.5 cents from a month ago.
Patrick De Haan, GasBuddy’s head of petroleum analysis, said the fall in prices this week was a result of two factors. “Oil prices fell last week as COVID cases in China surged, prompting restrictions on movements and hurting oil demand,” Haan said in a news release. “Meanwhile, President Biden’s announcement that the U.S. would be releasing 180 million barrels from the Strategic Petroleum Reserve caused an even further decline in oil, leading gas prices in nearly all areas of the country to fall over the last week.
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