CHICAGO, Ill. – One oil and gas industry analyst says the national gas price average is slightly below five dollars a gallon once again, and he thinks the declines may continue.
Patrick DeHaan with GasBuddy.com tweets his firm’s national average is four tenths of a cent below $5, as of 1:00 p.m. Friday.
He says oil prices are plummeting Friday, which is contributing to the decline, and based on current trends, the average could fall to as low as $4.55 per gallon in the coming weeks.
DeHaan says what he calls racks — where gas stations buy fuel — will likely adjust their prices downward later Friday.
For now, many Peoria gas stations are near $5.29 a gallon, with the state average at $5.54.
LIVE: WE DIVE UNDER FIVE! The national average has fallen back under $5 per gallon and stands at $4.999 per gallon. For the first time in 9 weeks, we are poised see a weekly DECLINE in average #gasprices. pic.twitter.com/KB9qInHnRk
— Patrick De Haan
(@GasBuddyGuy) June 17, 2022
