US Gasoline Prices Drop to Two-Month Low

gasoline prices in the United States fell below $4.50 a gallon for the first time since mid-May, indicating that the pressures on millions of citizens are beginning to ease.

According to American Automobile Association data released Tuesday, the national average price of gasoline was $4,495 per gallon, down more than 10% since hitting an all-time high last month.

Gasoline prices are down for the 35th consecutive day, the longest daily drop since April 2020.

For his part, US President Joe Biden wrote a tweet on Twitter Monday: Oil and gas companies should pass on lower costs to consumers, with major crude prices falling from their peak in June.

https://twitter.com/POTUS/status/1549093956696190976?s=20&t=jwHTP_1B81BfbeNOyLGzDw

The rise in gas prices this year helped boost the fastest rate of inflation in decades, with US consumer prices growing 9.1% from a year earlier in June.

Biden, under pressure to cut pump costs, completed a trip to Saudi Arabia in which he said he expected further increases in oil supplies.