The prices ARE STILL HIGH….$4.54 to $4.69 a gallon…..
But it IS down from …$4.89 a gallon…..
Good News for consumers and President Biden….
The national average for a gallon of gasoline now stands at $4.78, according to AAA, down from a recent peak above $5 per gallon. A year ago, the national average was only $3.13, representing a 50 percent year-over-year spike in the price of gas.
And any drop in gasoline prices may also provide some political respite for the Biden administration, since even though presidents have little control over gasoline prices, they still face blame from voters and their political foes.
The price of U.S. crude oil was hovering around $98 per barrel on Wednesday afternoon, down from about $108 late last week. Brent crude fell to about $101 per barrel, down from about $111 late last week.
Earlier Wednesday, Brent prices briefly dipped below $100, the first time since April prices have been under $100 for the commodity.
Experts said they expect this trend to result in drops at the pump. …