+

economy

Photo by Erik Mclean on Unsplash

Prices at the pump have dropped for more than two months straight.

When the summer of 2022 began, prices at the gas pump were pretty dire. Hitting a record nationwide average of $5.02 per gallon on June 14, gasoline became a bigger chunk of every family's budget and was particularly painful for people who had planned summer road trips to save over flying.

But since that peak, prices have steadily dropped to an average of $3.89 per gallon as of August 23. In fact, the price of gas has fallen every day for 70 days straight, which is the longest consecutive downward streak since January of 2015, according to Bloomberg. Prices vary by location, of course, but that prolonged drop is great news for our pocketbooks.

Why are prices dropping, though? It depends on who you ask.

Keep Reading Show less