Gas prices are once again on the decline across the U.S., bringing some relief to drivers now paying a little less to fill up their tanks.
The national average for gas prices on Monday stood around $3.44, according to AAA. That’s down about 9 cents from a week ago — marking the largest one-week drop recorded by the motor club so far in 2024. Monday’s average was also more than 19 cents less than it was a month ago and over 14 cents below the level seen this time last year.
Why the recent fall in prices at the pump? Industry analysts point to a blend of lackluster demand and strong supply — as well as relatively mild oil prices worldwide.
EVs now represent 7.3% of US market share. None of those drivers are buying gasoline for road trips or around town driving.